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Wave analysis

23.11.202114:25 Forex Analysis & Reviews: Wave analysis for EUR/USD on November 23, 2021

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EUR/USD, H4 timeframe:

As in the last trading weeks, the EUR/USD pair continues to develop a major momentum, which includes the end of the correction wave 4. Looking at the four-hour timeframe, the second half of this correction can be observed.

The final wave of correction 4, that is, wave [C], takes the form of a five-wave pulse (1)-(2)-(3)-(4)-(5). This impulse is built into four parts out of five.

It seems that within the framework of the last impulse sub-wave (5), the bearish wave 3 in the form of an impulse has come to an end [1]-[2]-[3]-[4]-[5] of a smaller wave level. In this case, the price may soon start moving up within the corrective wave 4.

It is assumed that prices, along with wave 4 going up, may rise to the level of 1.1374, which was marked by a correction [4].

At the moment, it is recommended to consider opening buy deals in order to take profit at the end of correction 4.

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