EURUSD – Fifth wave advance to continue – November 26th, 2020

Note: there’s also an alternative scenario, which has published in the weekly outlook.

EUR/USD, 12H chart. It seems like wave 4 might take the form of a double zigzag. If correct, a fifth-wave advance should move on in the short term.

EUR/USD, 120Minutes chart. No change. Wave ((ii)) is likely taking the form of a flat pattern, but this scenario is getting riskier. However, considering a possible ending diagonal in wave c of (b), it’s still possible that the market is going to test the 0.618 retracement level at 1.1723.

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