The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1649.
Main scenario: long positions will be relevant from corrections above the level of 1.1649 with a target of 1.1854 – 1.1940.
Alternative scenario: Breakout and consolidation below the level of 1.1649 will allow the pair to continue declining to the levels of 1.1515 – 1.1463.
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 b of B formed and the wave c of B developing inside. Apparently, the third wave of junior level (iii) of c is developing on the 1H frame. If the presumption is correct, the pair will continue rising to 1.1854 – 1.1940. The level 1.1649 is critical in this scenario.
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Price chart of EURUSD in real time mode
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