empty
22.01.2024 01:29 PM
EUR/USD bullish potential is not yet exhausted: How high will the market rise?

This image is no longer relevant

According to the current markup, an active wave [Y] is forming on the currency pair, which may complete a larger active wave Y. Wave [Y] consists of three parts—subwaves (A)-(B)-(C). At the moment, the first impulse wave (A) appears to be completed; it consists of five subwaves 1-2-3-4-5.

After the completion of the impulsive rise, the market went down as part of the correction (B). This correction has the structure of a standard zigzag A-B-C. On the last section of the chart, we can observe the rise at the beginning of the final impulse wave (C).

An increase in the impulse (C) can be expected to the mark of 1.1155. At the indicated price level, the magnitude of the impulse (C) will be 76.4% of the impulse (A) according to the Fibonacci extension. The probability of reaching the specified coefficient is high.

In the current situation, it is recommended to consider opening long positions.

Trading recommendations: Buy at 1.0894, take profit at 1.1155.

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

EUR/USD Analysis on June 11, 2025

The wave structure on the 4-hour chart for EUR/USD has shifted into a bullish formation and continues to hold this shape. I believe there's little doubt that this transformation

Chin Zhao 19:00 2025-06-11 UTC+2

GBP/USD Analysis on June 11, 2025

The wave structure for GBP/USD continues to suggest the formation of a bullish impulse wave pattern. The wave picture is nearly identical to that of EUR/USD. Until February

Chin Zhao 18:51 2025-06-11 UTC+2

GBP/USD Analysis on June 9, 2025

For the GBP/USD pair, the wave pattern continues to indicate the formation of an upward impulse wave structure. The wave pattern closely resembles that of the EUR/USD pair. Until February

Chin Zhao 20:16 2025-06-09 UTC+2

EUR/USD Analysis on June 9, 2025

The wave structure on the 4-hour EUR/USD chart has shifted to an upward formation and continues to hold this structure. I believe there's little doubt that this transformation occurred solely

Chin Zhao 20:09 2025-06-09 UTC+2

Analysis of EUR/USD on June 5, 2025

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

Chin Zhao 20:03 2025-06-05 UTC+2

GBP/USD Analysis on June 4, 2025

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

Chin Zhao 18:48 2025-06-04 UTC+2

EUR/USD Analysis on June 3, 2025

The wave pattern on the 4-hour chart for EUR/USD has transformed into an upward structure and remains such. I believe there's no doubt that this transformation occurred exclusively

Chin Zhao 19:38 2025-06-03 UTC+2

GBP/USD Analysis on June 3, 2025

The wave structure for GBP/USD continues to indicate the development of an upward impulsive wave pattern. The wave pattern is almost identical to that of the EUR/USD pair. Until February

Chin Zhao 19:32 2025-06-03 UTC+2

EUR/USD Analysis on June 2, 2025

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

Chin Zhao 19:07 2025-06-02 UTC+2

GBP/USD Analysis on June 2, 2025

The wave structure for GBP/USD continues to indicate the formation of a bullish impulse wave pattern. The wave pattern closely mirrors that of EUR/USD. Until February 28, we observed

Chin Zhao 19:05 2025-06-02 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.