EUR/USD: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.0902 |
| Take Profit | 1.1140, 1.1273 |
| Stop Loss | 1.0840 |
| Key Levels | 1.0719, 1.0797, 1.0840, 1.1140, 1.1273 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.0835 |
| Take Profit | 1.0797, 1.0719 |
| Stop Loss | 1.0865 |
| Key Levels | 1.0719, 1.0797, 1.0840, 1.1140, 1.1273 |
Growth is possible.
On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B ended, a downward correction formed as the second wave 2 of (А) of B, and the development of the third wave 3 of (A) of B started. Now, the first wave of the lower level i of 3 has formed, and a local correction has ended as the second wave ii of 3. If the assumption is correct, the EUR/USD pair will grow within the wave iii of 3 to the area of 1.1140–1.1273. In this scenario, critical stop loss level is 1.0840.
Main scenario
Long positions will become relevant above the level of 1.0840 with the targets at 1.1140–1.1273. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 1.0840 will let the asset go down to the area of 1.0797–1.0719.
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