EUR/USD: WAVE ANALYSIS

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EUR/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationsBUY
Point of entry1.0728
Take Profit1.1140, 1.1470
Stop Loss1.0663
Key levels1.0226, 1.0414, 1.0663, 1.1140, 1.1470
Alternative scenario
RecommendationsSELL STOP
Point of entry1.0660
Take Profit1.0414, 1.0226
Stop Loss1.0742
Key levels1.0226, 1.0414, 1.0663, 1.1140, 1.1470

The possibility of growth remains.

On the daily chart, the construction of an ascending wave B continues, within which the first wave 1 of (A) of B has formed, a downward correction has completed as the second wave 2 of (A) of B, and the third wave 3 of (A) of B is observed. Currently, the third wave iii of 3 is developing, within which the local correction as wave (ii) of iii has ended and wave (iii) of iii has begun. If the assumption is correct, then the EUR/USD pair will rise to the area of ​​1.1140–1.1470. The critical stop loss level for this scenario is 1.0663.

EUR/USD: WAVE ANALYSIS

EUR/USD: WAVE ANALYSIS

Main scenario

Long positions are relevant above the level of 1.0663 with targets of 1.1140–1.1470. Implementation period: 7 days or more.

Alternative scenario

A breakout and price consolidation below the level of 1.0663 will allow the trading instrument to continue its downward dynamics to the area of ​​1.0414–1.0226.


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