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EUR/USD, H4 time frame:
The EUR/USD pair pleases traders with its long and stable decline. The last part of the correction wave 4 is formed on it, which is a double zigzag and is marked by a green wave [Y].
The last part of wave [Y] consists of sub-waves A-B-C and is a simple zigzag. The last part of impulse C is the most interesting for us.
It is worth noting that wave [4] of C was completed not so long ago, which took the form of an inclined triangle (A)-(B)-(C)-(D)-(E), after which the market continued to move down.
It is likely that the beginning of the bearish impulse [5] is now forming, and within it, a decline to the level of 1.170 can be observed. This level is determined by the previous low [W].
Now, traders have a great opportunity to sell and earn on a decline in impulse [5], placing the take profit at the level of 1.170.
The presence of an inclined triangle in the wave [4] indicates that the downward movement in the upcoming impulse may be rapid.
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