FX.co ★ Wave analysis of EUR/USD for September 21, 2021

EUR/USD, H4:

The initial part of the upward wave is currently forming, which looks like an impulse. It is assumed that the market has completed the construction of the upward wave (1), and it seems that the formation of the downward correction (2), which took the form of a double zigzag W-X-Y, has ended.

Thus, in the coming trading days, the market is expected to rise within a larger impulse wave (3). The first target for closing deals is at the previous high - 1.1911, which was marked by the subwave (1). It is recommended to consider opening buy deals and set take profit at the specified level.

Today, at 14:30 UTC, ECB President Christine Lagarde will deliver a speech to set short-term interest rates, which can accelerate the growth of the currency pair, which means there is a good opportunity to make money.