EURUSD Weekly – November 2nd, 2020

EUR/USD, Weekly chart. It remains unclear which pattern 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, 12H chart. It’s still possible that we’re going to have a triangle for wave 4. Previously, we had an upward impulse, which is likely wave 3. If so, the market should continue unfolding a fourth-wave correction in the short term.

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