EUR/USD: Wave Analysis

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EUR/USD: Wave Analysis
Scenario
Time frameWeekly
RecommendationSELL
Entry point1.0715
Take Profit1.0441, 1.0214
Stop Loss1.0935
The most important levels1.0214, 1.0441, 1.0935, 1.1214, 1.1470
Alternative scenario
RecommendationBUY STOP
Entry point1.0940
Take Profit1.1214, 1.1470
Stop Loss1.0850
The most important levels1.0214, 1.0441, 1.0935, 1.1214, 1.1470

Price correction continues, probability of decline still exists.

On the daily chart, the first wave of the older level 1 of (А) of B has formed and a correction is observed in the form of the second wave 2 of (А) of B. At the moment, a downward wave c of 2 is developing, within which the third wave of the younger level (iii) of c is formed. If the assumption is correct, the EUR/USD pair will fall to the level of 1.0441–1.0214. The critical stop-loss for this scenario is the level of 1.0935.

EUR/USD: Wave Analysis

EUR/USD: Wave Analysis

Basic scenario

Short positions are current below 1.0935 with targets 1.0441–1.0214. Deadline: 7 days and more.

Alternative scenario

A price breakout and stop above the 1.0935 level will enable the trading instrument to continue its upward momentum to the 1.1214–1.1470 level.


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