FX.co ★ EUR/USD

Hello traders, Currently, on the H4 chart of the currency pair EUR/USD, a local corrective structure similar to a contracting horizontal triangle is forming as wave "b" of a potential ascending zigzag "abc". This wave scenario fully corresponds to the internal structure of its current formation, as this zigzag would represent the final 5th wave of the presumed expanded ending diagonal. Moreover, the pair's quotes continue to stay above the MA200 and MA100 moving averages. Therefore, the prospect of the pair's uptrend development remains. Some informational driver is needed for the pair's quotes to break out of this "hibernation" and start showing directional movement, in our case, to the north. So, patience is required. Updating the upper fractals may indicate the beginning of the pair's rise.