The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1500.

Main scenario: long positions will be relevant from corrections above the level of 1.1500 with a target of 1.1787 – 1.1940.

Alternative scenario: breakout and consolidation below the level of 1.1500 will allow the pair to continue declining to a level of 1.1300.

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, started developing on the H4 time frame, with the wave a of B formed inside. Apparently,a local correction is developing in the form of the wave b of B on the 1H frame. If the presumption is correct, the pair will continue rising to 1.1787 – 1.1940 once the correction is completed. The level 1.1500 is critical in this scenario.

EUR/USD: Wave analysis and forecast for 07/09/2018 – 14/09/2018

EUR/USD: Wave analysis and forecast for 07/09/2018 – 14/09/2018

EUR/USD: Wave analysis and forecast for 07/09/2018 – 14/09/2018

Price chart of EURUSD in real time mode

EUR/USD: Wave analysis and forecast for 07/09/2018 – 14/09/2018

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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