empty
11.11.2021 09:30 AM
Wave analysis of EUR/USD on November 11, 2021

EUR/USD, H4 timeframe:

This image is no longer relevant

The price of the EUR/USD pair collapsed rapidly in the last section. The previous version with a converging horizontal triangle was broken. The decline means that the correction wave 4 was completed earlier in the form of a simple bullish zigzag [A]-[B]-[C]. After that, the price formed sub-waves [1] and [2].

Given that the market is forming the last part of the downward impulse, wave 5 can take the form of the final diagonal, in which the sub-waves [1], [3], and [5] are simple bearish zigzags.

Accordingly, the wave [3], which is now being formed, is also a zigzag and consists of sub-waves (A)-(B)-(C). The completion of this downward zigzag is expected at the level of 1.1393, after which the price may begin to form a small upward correction [4].

Moreover, considering that the market is not rich in news today, the formation of the initial part of the upward correction (B) after a decline to 1.1393 is quite likely.

An approximate scheme of possible future movement is indicated on the graph.

Trading recommendations:

It is recommended to open short positions from the current level of 1.1480, with the target of 1.1393.

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 May 22, 2025

For the GBP/USD pair, the wave structure continues to suggest the development of a bullish impulsive trend. The wave pattern is nearly identical to that of EUR/USD. Until February

Chin Zhao 18:12 2025-05-22 UTC+2

EUR/USD Analysis on May 21, 2025

The wave pattern on the 4-hour chart for EUR/USD has transformed into a bullish structure and continues to remain so. I believe no one doubts that this transformation occurred solely

Chin Zhao 18:56 2025-05-21 UTC+2

GBP/USD Analysis on May 21, 2025

wave structure, largely driven by Donald Trump. The wave setup is nearly identical to that of EUR/USD. Until February 28, we observed the formation of a convincing corrective structure that

Chin Zhao 18:51 2025-05-21 UTC+2

GBP/USD Analysis on May 20, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulsive wave structure, thanks to Donald Trump. The wave picture is almost identical to that

Chin Zhao 19:47 2025-05-20 UTC+2

EUR/USD Analysis on May 20, 2025

The wave structure on the 4-hour EUR/USD chart has transformed into a bullish one and continues to maintain that shape. I believe there is no doubt that this transformation occurred

Chin Zhao 19:40 2025-05-20 UTC+2

EUR/USD Analysis on May 19, 2025

The wave pattern on the 4-hour chart has transformed into a bullish structure and remains as such. I believe there is no doubt that this transformation occurred solely

Chin Zhao 18:26 2025-05-19 UTC+2

Weekly Forecast Using Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/GBP, and the US Dollar Index on May 19th

GBP/USD Analysis: Since April 8, GBP/USD has been moving upward on the price chart. From the lower boundary of the potential reversal zone, a counter-correction has been forming

Isabel Clark 11:43 2025-05-19 UTC+2

Weekly Forecast Using Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on May 19th

EUR/USD Analysis: Since February, the EUR/USD chart has been forming an upward wave. Over the past month and a half, a corrective segment (B) has been developing within this wave

Isabel Clark 11:40 2025-05-19 UTC+2

GBP/USD Analysis on May 16, 2025

The wave structure for the GBP/USD instrument continues to indicate the formation of a bullish impulsive wave sequence. "Thanks" to Donald Trump, the wave pattern closely mirrors that of EUR/USD

Chin Zhao 18:43 2025-05-16 UTC+2

EUR/USD Analysis on May 16, 2025

The wave structure on the 4-hour chart for the EUR/USD pair has transformed into an upward one and continues to hold this formation. I believe there is little doubt that

Chin Zhao 18:40 2025-05-16 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.