EUR/USD: Wave Analysis
| Scenario | |
|---|---|
| Time frame | Weekly |
| Recommendation | SELL |
| Entry point | 1.0715 |
| Take Profit | 1.0441, 1.0214 |
| Stop Loss | 1.0935 |
| The most important levels | 1.0214, 1.0441, 1.0935, 1.1214, 1.1470 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry point | 1.0940 |
| Take Profit | 1.1214, 1.1470 |
| Stop Loss | 1.0850 |
| The most important levels | 1.0214, 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.
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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