EURUSD Weekly – August 31st, 2020

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EUR/USD, Weekly chart. It remains unclear which patter we’re going to have as a whole correction. It seems like the last decline was finished in the form of a double zigzag. On the other hand, the last upward price movement looks like an impulse. In this case, the market should continue unfolding an impulse for wave ((C)) in the coming days, so the high of wave ((A)) at 1.2548 is going to be broken soon.

EUR/USD, Daily chart. The high of wave ((B)) has been broken, which brings more evidence for the bullish scenario. It seems like wave ((B)) finished as a zigzag, so the current upward price movement should be wave (1). If correct, the market is likely going to continue moving up in the coming days.

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