The EUR/USD price is still likely to grow. Estimated pivot point is at a level of 1.1628. 

Main scenario: long positions will be relevant from corrections above the level 1.1628 with a target of 1.1877.

Alternative scenario: Breakout and consolidation below the level of will allow the EUR/USD rate to continue declining to the levels of 1.1439 – 1.1320.

Analysis: In the daily timeframe, an upward momentum is complete as the first wave of senior level (1) and a downward correction continues forming as wave (2). In the 4-hour EUR/USD price chart, a downward momentum continues developing within the wave A of (2), with an ascending correction emerging inside in the form of the wave iv of A. On the 1-hour time frame, apparently, the wave (c) of iv is forming. If the presumption is correct, the EUR/USD price will continue rising towards the level of 1.1877. The level 1.1628 is critical in this scenario.

EUR/USD: волновой анализ и прогноз на 13.07.18 – 20.07.18

EUR/USD: волновой анализ и прогноз на 13.07.18 – 20.07.18

EUR/USD: волновой анализ и прогноз на 13.07.18 – 20.07.18

Price chart of EURUSD in real time mode

EUR/USD: wave analysis and forecast for 13/07/2018 – 20/07/2018

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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