EUR/USD: WAVE ANALYSIS

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EUR/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point1.0831
Take Profit1.0414, 1.0200
Stop Loss1.1000
Key Levels1.0200, 1.0414, 1.1000, 1.1140, 1.1273
Alternative scenario
RecommendationBUY STOP
Entry Point1.1005
Take Profit1.1140, 1.1273
Stop Loss1.0945
Key Levels1.0200, 1.0414, 1.1000, 1.1140, 1.1273

A fall is possible.

On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B ended, and a downward correction forms as the second wave 2 of (А) of B. Now, the wave b of 2 has formed, and the wave c of 2 has started, within which the wave of the lower level (i) of c is forming. If the assumption is correct, the EUR/USD pair will fall to the area of 1.0414–1.0200. In this scenario, critical stop loss level is 1.1000.

EUR/USD: WAVE ANALYSIS

EUR/USD: WAVE ANALYSIS

Main scenario

Short positions will become relevant below the level of 1.1000 with the targets at 1.0414–1.0200. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 1.1000 will let the asset grow to the area of 1.1140–1.1273.


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