The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1440.

Main scenario: long positions will be relevant from corrections above the level of 1.1440 with a target of 1.1586 – 1.1620.

Alternative scenario: Breakout and consolidation below the level of 1.1440 will allow the pair to continue declining to the levels of 1.1308 – 1.1210.

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 C of (2) developing within. Presumably an ascending correction is developing as wave ii of C on the H4 time frame. On the H1 timeframe, apparently, the third wave of junior level iii of (c) of ii has formed and a local correction iv of (c) is developing at the moment. If the presumption is correct, the pair will logically resume dropping to the levels 1.1586 – 1.1620. The level 1.1440 is critical in this scenario.

EUR/USD: Wave analysis and forecast for 11/01/2019 – 18/01/2019

EUR/USD: Wave analysis and forecast for 11/01/2019 – 18/01/2019

EUR/USD: Wave analysis and forecast for 11/01/2019 – 18/01/2019


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Price chart of EURUSD in real time mode

EUR/USD: Wave analysis and forecast for 11/01/2019 – 18/01/2019

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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