EUR/USD: WAVE ANALYSIS

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EUR/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point1.0856
Take Profit1.1138, 1.1276
Stop Loss1.0718
Key Levels1.0212, 1.0410, 1.0718, 1.1138, 1.1276
Alternative scenario
RecommendationSELL STOP
Entry Point1.0715
Take Profit1.0410, 1.0212
Stop Loss1.0815
Key Levels1.0212, 1.0410, 1.0718, 1.1138, 1.1276

Growth is possible.

On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B formed, a downward correction ended as the second wave 2 of (А) of B, and the third wave 3 of (А) of B started. Now, the first wave of the lower level i of 3 has ended, a local correction has formed as the second wave ii of 3, and the third wave iii of 3 is developing. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1138–1.1276. In this scenario, critical stop loss level is 1.0718.

EUR/USD: WAVE ANALYSIS

EUR/USD: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 1.0718 with the targets at 1.1138–1.1276. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 1.0718 will let the asset go down to the area of 1.0410–1.0212.


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