empty
17.09.2021 02:16 PM
Elliot wave analysis of EUR/USD for September 17, 2021

EUR/USD, H4:

This image is no longer relevant

The corrective wave 4, which took the form of a wave plane, was completed. Then the market turned around and began to move up. The initial part of the new wave hints at an impulse. Perhaps the first part of the potential impulse has fully completed its pattern. A bearish correction (2) is in the process of development. This correction is taking the form of a double zigzag and is likely to be completed soon.

The price is expected to decline in the final wave Y just below the level of 1.1740, where the value of wave (2) will be 76.4% along the Fibonacci lines from wave (1), then the market may begin to grow in an impulse (3) above the level of 1.1911, marked by subwaves (1) and (4).

Thus, in the current situation, it is recommended to consider opening buy deals in order to take profit at the previous maximum.

Roman Onegin,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Roman Onegin
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD on July 29th: Bulls May Push the Market Toward the 1.189 Level

In the long term, the EUR/USD market may be forming a large bullish correction (B), which is taking the shape of a standard A-B-C zigzag. As of now, only

Roman Onegin 18:32 2025-07-29 UTC+2

GBP/USD Analysis on July 28, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulse wave structure. The wave pattern is almost identical to that of EUR/USD, as the only real

Chin Zhao 21:13 2025-07-28 UTC+2

EUR/USD Analysis on July 28, 2025

The wave pattern on the 4-hour EUR/USD chart has remained unchanged for several months. The upward segment of the trend continues to develop, while the news background continues to support

Chin Zhao 21:06 2025-07-28 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and the USDollar Index — July 28th

A continued decline in the British pound is expected in the upcoming week, within the projected support zone. A sideways drift with a rise toward resistance levels is likely

Isabel Clark 08:25 2025-07-28 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, GOLD as of July 28

In the coming week, the euro is expected to continue moving sideways within a defined range between the nearest zones. Initially, the exchange rate is likely to rise until

Isabel Clark 00:48 2025-07-28 UTC+2

GBP/USD Analysis on July 24, 2025

The wave pattern for the GBP/USD pair continues to indicate the formation of an upward impulsive wave pattern. The wave picture is almost identical to that of EUR/USD

Chin Zhao 20:17 2025-07-24 UTC+2

EUR/USD Analysis on July 24, 2025

The wave pattern on the 4-hour EUR/USD chart has remained unchanged for several months. The upward segment of the trend continues to develop, and the news background still supports

Chin Zhao 20:00 2025-07-24 UTC+2

GBP/USD Analysis on July 23, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulsive wave structure. The wave picture is nearly identical to that of EUR/USD, as the U.S. dollar

Chin Zhao 20:25 2025-07-23 UTC+2

EUR/USD Analysis on July 23, 2025

The wave pattern on the 4-hour chart for EUR/USD has remained unchanged for several months. The upward trend segment continues to form, while the news background continues to support

Chin Zhao 20:17 2025-07-23 UTC+2

GBP/USD Analysis on July 22, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulse wave structure. The wave configuration is almost identical to that of EUR/USD, as the U.S. dollar

Chin Zhao 20:26 2025-07-22 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.