FX.co ★ EUR/USD

Hello everyone! On the EUR/USD currency pair, analyzed on the lower wave degree in the most compressed M5 timeframe, the only possible bullish scenario assumes a sequence of upward waves of the first and second category. However, it should be noted that extensions in first waves are extremely rare, occurring in approximately one out of a hundred cases. This indicates that the probability of an impulsive rise from the current levels is 1 to 99; however, one more impulsive upward wave toward the upper boundary of the descending channel is highly probable.