On the 4-hour chart, the wave pattern for the EUR/USD pair continues to be consistent even considering the movements for the whole year. After several series of corrective waves in the first half of the year, the market was showing a bearish sentiment. Thus, by the end of December, the anticipated wave C is approaching its formation. However, it may still take a five-wave a-b-c-d-e form. Therefore, the wave pattern of the whole downtrend section could also take the form of A-B-C-D-E. This is the problem with corrective patterns. They can take almost any shape and duration. However, until a successful attempt to break through the peak of wave d in C, I still believe that another downward wave will be built inside wave C. Most likely this will happen after the New Year, as market activity remains very weak right now. As for the prospects of building waves D and E, much will depend on the background during the first months of 2022. If it remains weak for the euro, we will probably observe a new downward wave.
