EUR/USD: Ending Diagonal Pattern

EUR/USD: Ending Diagonal Pattern

2022-12-16 • Updated

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Wave 5 is likely going to take the form of an ending diagonal pattern. If so, there's an opportunity to have a zigzag in wave [iii] in the short term. The main intraday target is +2/8 MM Level.

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There's a pullback from 0/8 MM Level, so we've got an upward impulse, which could be wave ii. Also, wave ii likely ended as a zigzag pattern, so the price is rising. Wave [1] is about to end, so if a pullback from 6/8 MM Level happens little later on, we're going to have wave [2] of iii.

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