empty
05.01.2022 10:23 AM
Wave analysis for EUR/USD on January 5, 2021

The US National Nonfarm Employment report is expected to be released today at 13:15 Universal time, which will be followed by a report on crude oil inventories at 15:00 UTC+00. A detailed report on the rates committee meeting held two weeks ago is also expected at 19:00 Universal time. Most likely, such a volume of news can accelerate the movement of the course towards the intended target.

EUR/USD, H4 timeframe:

This image is no longer relevant

Just like in previous trading weeks, the formation of a downward wave Y can be observed, which is part of a large zigzag trend that takes the form of a triple zigzag.

Wave Y is similar to a simple zigzag [A]-[B]-[C], where the first two sub-waves were fully done with their pattern – impulse [A] and correction [B]. Now, the last downward wave [C] is still under development, taking the form of a simple impulse, which will consist of sub-waves (1)-(2)-(3)-(4)-(5).

Earlier, only the first two parts, sub-waves (1) and (2), have been fully completed within the framework of the potential impulse. A downward impulse wave (3) is still in the process of development. It seems that the development of a complex correction 4, consisting of sub-waves [W]-[X]-[Y], has recently ended, then the price began to make a downturn. It is very possible that the decline began in the last fifth wave.

Now, we expect the price to fall to the level of 1.1106, after which it may reverse and a correction (4) will start to form, as shown in the chart. Currently, opening sell deals can be considered.

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.