EUR/USD, H4 time frame:
Let's continue to analyze and trade the EUR/USD pair.
The internal structure of the horizontal corrective wave 4 can be observed at the higher wave level. It consists of three sub-waves [A]-[B]-[C] and is a wave plane. The zigzag sub-waves [A] and [B] look completely finished, and most likely, the impulse wave [C] has also come to an end.
At a lower wave level, a price reversal is shown. It is very possible that the price will increase soon. The initial part of the final fifth wave of the global impulse is expected to develop. The price may rise to the level of 1.1806 in the near future. It is worth noting that a small corrective sub-wave 4 was completed earlier at this level.
Trading recommendations:
Opening buy deals from the current level should be considered since the EUR/USD pair is expected to rise. It is recommended to set take profit at the price level of 1.1806.
