EUR/USD: wave analysis

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EUR/USD: wave analysis
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point1.0478
Take Profit1.0200, 0.9953
Stop Loss1.0615
Key Levels0.9953, 1.0200, 1.0615, 1.1214, 1.1470
Alternative scenario
RecommendationBUY STOP
Entry Point1.0617
Take Profit1.1214, 1.1470
Stop Loss1.0415
Key Levels0.9953, 1.0200, 1.0615, 1.1214, 1.1470

A fall is possible.

On the daily chart, the first wave of the higher level 1 of (A) of B formed, and a correction develops as the second wave 2 of (A) of B. Now, the downward wave c of 2 is developing, within which the third wave of the lower level (iii) of c has ended. If the assumption is correct, after the correction as the wave (iv) of c, the EUR/USD pair will fall to the area of 1.0200–0.9953. In this scenario, critical stop loss level is 1.0615.

EUR/USD: wave analysis

EUR/USD: wave analysis

Main scenario

Short positions will become relevant below the level of 1.0615 with the targets at 1.0200–0.9953. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 1.0615 will let the asset grow to the area of 1.1214–1.1470.


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