The pair EUR/USD is likely to grow. Estimated pivot point is at a level of 1.1461.

Main scenario: long positions will be relevant from corrections above the level of 1.1461 with a target of 1.1635 – 1.1676.

Alternative scenario: breakout and consolidation below the level of 1.1461 will allow the pair to continue declining to a level of 1.1390.

Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues developing on the daily time frame with the wave A of (2) formed within. An upward correction B of (2), supposedly, is developing on the H4 time frame, with the wave (a) of x formed and the wave x of B developing inside. Apparently, the wave (a) of x is formed in the form of an impulse on the H1 frame. If the presumption is correct, the pair will rise to 1.1635 – 1.1676 under correction. The level 1.1461 is critical in this scenario.

EUR/USD: Wave analysis and forecast for 05/10/2018 – 12/10/2018

EUR/USD: Wave analysis and forecast for 05/10/2018 – 12/10/2018

EUR/USD: Wave analysis and forecast for 05/10/2018 – 12/10/2018


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Price chart of EURUSD in real time mode

EUR/USD: Wave analysis and forecast for 05/10/2018 – 12/10/2018

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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