EUR/USD: WAVE ANALYSIS
| Scenery | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry point | 1.1038 |
| Take Profit | 1.1470, 1.1700 |
| Stop Loss | 1.0946 |
| Key levels | 1.0414, 1.0663, 1.0946, 1.1470, 1.1700 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry point | 1.0945 |
| Take Profit | 1.0663, 1.0414 |
| Stop Loss | 1.1040 |
| Key levels | 1.0414, 1.0663, 1.0946, 1.1470, 1.1700 |
The probability of growth remains.
On the daily chart, the development of the ascending wave B continues, in which the first wave 1 of (A) of B was formed, the correction was completed as the second wave 2 of (A) of B and the third wave 3 of (A) of B started. At the moment, the third wave of the lower level iii of 5 is forming, within which wave (iii) of iii has formed. If the assumption is correct, the EUR/USD pair will grow in the area of 1.1470–1.1700. The critical stop-loss level for this scenario is 1.0946.
Main stage
Long positions are relevant above the level of 1.0946 with targets at 1.1470–1.1700. Implementation period: 7 days or more.
Alternative scenario
The breakout and consolidation of the price below the level of 1.0946 will allow the trading instrument to continue the downward dynamics in the area of 1.0663–1.0414.
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