EUR/USD: WAVE ANALYSIS

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EUR/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point1.1040
Take Profit1.1230, 1.1470
Stop Loss1.0885
Key Levels1.0414, 1.0663, 1.0885, 1.1230, 1.1470
Alternative scenario
RecommendationSELL STOP
Entry Point1.0880
Take Profit1.0663, 1.0414
Stop Loss1.0950
Key Levels1.0414, 1.0663, 1.0885, 1.1230, 1.1470

Growth is possible.

On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B formed, a correction ended as the second wave 2 of (А) of B, and the third wave 3 of (A) of B develops. Now, the wave (iii) of iii is forming. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1230–1.1470. In this scenario, critical stop loss level is 1.0885.

EUR/USD: WAVE ANALYSIS

EUR/USD: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 1.0885 with the targets at 1.1230–1.1470. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 1.0885 will let the asset go down to the area of 1.0663–1.0414.


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