EUR/USD: WAVE ANALYSIS

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EUR/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point1.0904
Take Profit1.1091, 1.1190
Stop Loss1.0833
Key Levels1.0634, 1.0731, 1.0833, 1.1091, 1.1190
Alternative scenario
RecommendationSELL STOP
Entry Point1.0830
Take Profit1.0731, 1.0634
Stop Loss1.0890
Key Levels1.0634, 1.0731, 1.0833, 1.1091, 1.1190

Growth is possible.

On the daily chart, the upward wave B develops, within which the entry 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 (А) develops. Now, the wave i of 3 is developing, within which a correction has ended as the fourth wave of the lower level (iv) of i. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1091–1.1190. In this scenario, critical stop loss level is 1.0833.

EUR/USD: WAVE ANALYSIS

EUR/USD: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 1.0833 with the targets at 1.1091–1.1190. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 1.0833 will let the asset go down to the area of 1.0731–1.0634.

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