EUR/USD forecast

H4 graph

I supposed a growth to level 1.3750 in the previous forecast, but I also stated an intermediate resistance at 1.3570 on the way to this level. It turned out that this resistance was not intermediate; it was a major resistance at which the trend had turned. If you look at the wave mark-up, it’s quite clearly seen that all 5 waves had been executed, and resistance 1.3570 was the level of their execution. I was going to tell about it in the previous forecast, but I didn’t feel like confusing anyone with so many layers of variants to develop at one graph. However, now I realize I should have done it.

What we have now is the process of forming the “double top” turning figure (“a-a+” trend). A downtrend has already started to develop, so level 1.3375 is an intermediate support, and resistances are at 1.3415 - 1.3455, starting from there selling is worthwhile. After the “M” trend line gets broken, the descending intention will be amplified and the pair will reach the support 1.3112 - the basis of the “double top” figure from daily graph.

Daily graph



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