On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B formed, a downward correction ended as the second wave 2 of (А) of B, and the third wave 3 of (А) of B develops. Now, a local correction has formed as the second wave of the lower level ii of 3, and the third wave iii of 3 has started, within which the wave (iii) of iii is developing. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1138–1.1276. In this scenario, critical stop loss level is 1.0792.
Main scenario
Long positions will become relevant above the level of 1.0792 with the targets at 1.1138–1.1276. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 1.0792 will let the asset go down to the area of 1.0614–1.0414.
EUR/USD: WAVE ANALYSIS
12 March 2024, 06:22
Scenario
Timeframe
Weekly
Recommendation
BUY
Entry Point
1.0937
Take Profit
1.1138, 1.1276
Stop Loss
1.0792
Key Levels
1.0414, 1.0614, 1.0792, 1.1138, 1.1276
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.0790
Take Profit
1.0614, 1.0414
Stop Loss
1.0850
Key Levels
1.0414, 1.0614, 1.0792, 1.1138, 1.1276
Growth is possible.
On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B formed, a downward correction ended as the second wave 2 of (А) of B, and the third wave 3 of (А) of B develops. Now, a local correction has formed as the second wave of the lower level ii of 3, and the third wave iii of 3 has started, within which the wave (iii) of iii is developing. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1138–1.1276. In this scenario, critical stop loss level is 1.0792.
Main scenario
Long positions will become relevant above the level of 1.0792 with the targets at 1.1138–1.1276. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 1.0792 will let the asset go down to the area of 1.0614–1.0414.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.