empty
16.09.2021 11:42 AM
Wave analysis for EUR/USD on September 16, 2021

EUR/USD, H4 time frame:

This image is no longer relevant

Let's consider the situation of the EUR/USD pair using the Elliott theory. There will be important economic news today at 12:00 and 12:30 Universal time, which may affect the market.

It is assumed that a bullish impulse is forming for this instrument, in which the fourth wave was built – correction 4 in the form of a wave plane [A]-[B]-[C].

In the last part of the four-hour timeframe, the price growth and the development of a new bullish wave can be observed. This wave can take the form of a simple five-wave impulse. At the moment, its first two sub-waves (1) and (2) are completely done. The value of wave (2) was about 61.8% along the Fibonacci lines from wave (1). This is a common factor in impulses.

Consequently, sub-wave (3) is expected to develop in the near future, and, accordingly, prices will increase.

It is assumed that the pair will update the previous high of 1.1911 soon, which was marked by sub-waves (1) and (4).

Today, Lagarde will give a speech at 12:00 UTC+00. The ECB President sets short-term interest rates and has a decisive influence on the euro. At 12:30 Universal time, one of the most important news will be released – the number of initial applications for unemployment benefits in the US. This economic news can influence the market noticeably.

Therefore, it is recommended to consider opening long positions.

Roman Onegin,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD Analysis on June 26, 2025

The wave pattern for GBP/USD continues to indicate the development of a bullish impulsive wave structure. The wave layout is almost identical to that of EUR/USD, as the sole reason

Chin Zhao 19:27 2025-06-26 UTC+2

EUR/USD Analysis on June 26, 2025

The wave pattern on the 4-hour chart for EUR/USD continues to indicate the formation of an upward trend segment. Until February 28, when the decline of the U.S. dollar began

Chin Zhao 19:20 2025-06-26 UTC+2

EUR/USD Analysis on June 25, 2025

The wave pattern on the 4-hour chart for EUR/USD continues to indicate the formation of a bullish trend segment. Until February 28, when the U.S. dollar began to decline

Chin Zhao 19:10 2025-06-25 UTC+2

GBP/USD Analysis on June 24, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulsive wave sequence. The wave pattern is nearly identical to that of EUR/USD, as the main driver

Chin Zhao 19:35 2025-06-24 UTC+2

EUR/USD Analysis on June 24, 2025

The wave pattern on the 4-hour EUR/USD chart continues to indicate the formation of an upward trend segment. This transformation has occurred solely due to the new U.S. trade policy

Chin Zhao 19:29 2025-06-24 UTC+2

EUR/USD Analysis on June 23, 2025

The wave pattern of the 4-hour EUR/USD chart continues to indicate the development of an upward trend segment. This transformation occurred exclusively due to the new U.S. trade policy. Until

Chin Zhao 19:08 2025-06-23 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/GBP, and the US Dollar Index — June 23rd

In the coming days, a downward pullback in GBP quotes is likely, potentially reaching the calculated support zone. After contacting this level, quotes will likely drift sideways, forming conditions

Isabel Clark 11:14 2025-06-23 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold — June 23rd

Forecast for the Coming Days:Sideways movement is expected to continue. Near the projected support zone, there is a high probability of a pause and the formation of conditions

Isabel Clark 11:09 2025-06-23 UTC+2

GBP/USD Analysis on June 19, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulsive wave structure. The wave pattern is nearly identical to that of EUR/USD, since the U.S. dollar

Chin Zhao 20:20 2025-06-19 UTC+2

EUR/USD Analysis on June 19, 2025

The wave pattern on the 4-hour EUR/USD chart continues to indicate the formation of an upward trend section. The transformation in the structure has occurred solely

Chin Zhao 20:16 2025-06-19 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.