empty
08.07.2021 01:15 PM
Wave analysis for EUR/USD on July 8, 2021

EUR/USD, H1 time frame:

This image is no longer relevant

The development of the bearish zigzag A-B-C is shown in the last part of the chart. This zigzag forms the final effective sub-wave (Y) of the large triple zigzag.

Following the downward movement in impulse A, we saw a price pullback within the bullish correction B. The correction was formed during the week, and then the price began to decline again.

We have observed the construction of a downward impulse wave C from the end of June until the present, which is completed by sub-waves [1]-[2]-[3]-[4]-[5]. Based on the chart, it can be assumed that the market will fall in sub-waves (3)-(4) (5) to the level of 1.1688 in the near future.

At this level, the magnitude of the impulse wave C will be equal to the impulse wave A. As a rule, impulse waves in zigzags tend to be equal, so there is a high probability of reaching this level.

Currently, it is suggested to open sell trades in order to complete wave C.

Roman Onegin,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

GBP/USD Analysis on July 10, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulse structure. The wave picture closely resembles that of EUR/USD because the dollar remains the main driver

Chin Zhao 21:36 2025-07-10 UTC+2

EUR/USD Analysis on July 10, 2025

The wave pattern on the 4-hour EUR/USD chart has not changed for several consecutive months. The formation of the upward trend section continues, while the news background still supports

Chin Zhao 21:33 2025-07-10 UTC+2

GBP/USD Analysis on July 9, 2025

The wave pattern for GBP/USD continues to indicate the formation of an upward impulse wave pattern. The wave picture closely resembles that of EUR/USD, since the U.S. dollar remains

Chin Zhao 21:01 2025-07-09 UTC+2

EUR/USD Analysis on July 9, 2025

The wave pattern on the 4-hour chart for EUR/USD has remained unchanged for several consecutive months. The formation of the upward trend section continues, while the news background continues

Chin Zhao 20:56 2025-07-09 UTC+2

EUR/USD Analysis on July 8, 2025

The wave pattern on the 4-hour EUR/USD chart has remained consistent for several months. The upward trend segment continues to form, and the news backdrop continues to support all currencies

Chin Zhao 20:00 2025-07-08 UTC+2

GBP/USD Analysis on July 8, 2025

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

Chin Zhao 19:46 2025-07-08 UTC+2

GBP/USD Analysis on July 7, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulse wave pattern. The wave picture is nearly identical to that of EUR/USD because the sole factor

Chin Zhao 20:08 2025-07-07 UTC+2

EUR/USD Analysis on July 7, 2025

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

Chin Zhao 20:05 2025-07-07 UTC+2

GBP/USD Analysis on July 2, 2025

The wave pattern for GBP/USD continues to suggest the formation of an upward impulsive wave sequence. The wave pattern closely resembles that of EUR/USD, since the U.S. dollar remains

Chin Zhao 20:33 2025-07-02 UTC+2

EUR/USD Analysis on July 2, 2025

The wave pattern on the 4-hour chart for EUR/USD continues to indicate the formation of an upward trend segment. The trade war initiated by Donald Trump was intended to boost

Chin Zhao 20:31 2025-07-02 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.