The pair EUR/USD is likely to grow. Estimated pivot point is at a level of 1.1431.
Main scenario: long positions will be relevant from corrections above the level of 1.1431 with a target of 1.1813 – 1.1940.
Alternative scenario: Breakout and consolidation below the level of 1.1431 will allow the pair to continue declining to the levels of 1.1370 – 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, is developing on the H4 time frame, with the wave (a) of x formed and the wave x of B developed inside. Apparently, the wave y of B started forming on the H1 frame. If the presumption is correct, the pair will rise to the levels of 1.1813 – 1.1940. The level 1.1431 is critical in this scenario.
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Price chart of EURUSD in real time mode
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