The pair EUR/USD is still likely to grow under correction. Estimated pivot point is at a level of  1.1213.

Main scenario: long positions will be relevant from corrections above the level of 1.1213 with a target of  1.1511 – 1.1586.

Alternative scenario:Breakout and consolidation below the level of 1.1213 will allow the pair to continue declining to the levels of 1.1150 – 1.1100.

Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues to develop within the daily frame. On the H4 time frame, presumably the wave B of (2) has been formed and the wave С of (2) is developing, with the wave  i of C formed inside. Apparently, the ascending correction of junior level ii of C started developing on the H1 time frame. If the presumption is correct, the pair will logically rise to  1.1511 – 1.1586. The level  1.1213 is critical in this scenario

EUR/USD: волновой анализ и прогноз на 16.11.18 – 23.11.18

EUR/USD: волновой анализ и прогноз на 16.11.18 – 23.11.18

EUR/USD: волновой анализ и прогноз на 16.11.18 – 23.11.18

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Price chart of EURUSD in real time mode

EUR/USD: Wave analysis and forecast for 16/11/2018 – 23/11/2018

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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