EUR/USD: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.0684 |
| Take Profit | 1.0860 ,1.0956 |
| Stop Loss | 1.0625 |
| Key Levels | 1.0090, 1.0213, 1.0517, 1.0860 ,1.0956 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.0515 |
| Take Profit | 1.0213, 1.0090 |
| Stop Loss | 1.0615 |
| Key Levels | 1.0090, 1.0213, 1.0517, 1.0860 ,1.0956 |
The price is in a correction and may grow.
On the daily chart, the upward wave B develops, within which the entry first wave 1 of (А) of B formed, and a downward correction develops as the second wave 2 of (А) of B. Now, the wave a of 2 has ended, and an upward correction is developing as the wave b of 2, within which the wave (c) of b is forming. If the assumption is correct, the EUR/USD pair will grow to the area of 1.0860–1.0956. In this scenario, critical stop loss level is 1.0517.
Main scenario
Long positions will become relevant above the level of 1.0517 with the targets at 1.0860–1.0956. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 1.0517 will let the asset go down to the area of 1.0213–1.0090.
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