EURUSD – Decline in the fourth wave of the upward impulse

12.12.2022

The final trading day of last week showed that the previously suggested correction is most likely wrong. The price is under pressure and is likely to fall. And this all within the framework of the formation of a divergent horizontal triangle in which the development of wave e is going on at the moment.

During today’s trading day the price will go down to the lower formation of the correctional model, where the formation of the iv wave will end, which this triangle is a part of. Further growth is expected within the framework of the v wave development.

Recommendations: Sell 1.0510, SL 1.0530, TP 1.0400.