EUR/USD: WAVE ANALYSIS

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EUR/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point1.0786
Take Profit1.0414, 1.0212
Stop Loss1.0978
Key Levels1.0212, 1.0414, 1.0978, 1.1138, 1.1276
Alternative scenario
RecommendationBUY STOP
Entry Point1.0980
Take Profit1.1138, 1.1276
Stop Loss1.1040
Key Levels1.0212, 1.0414, 1.0978, 1.1138, 1.1276

A fall is possible.

On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B ended, and a downward correction forms as the second wave 2 of (А) of B. Now, the correctional wave b of 2 has formed, and the wave c of 2 is developing, within which the third wave of the lower level (iii) of c is forming. If the assumption is correct, the EUR/USD pair will fall to the area of 1.0414–1.0212. In this scenario, critical stop loss level is 1.0978.

EUR/USD: WAVE ANALYSIS

EUR/USD: WAVE ANALYSIS

Main scenario

Short positions will become relevant below the level of 1.0978 with the targets at 1.0414–1.0212. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 1.0978 will let the asset grow to the area of 1.1138–1.1276.


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