The pair EUR/USD is still likely to fall. Estimated pivot point is at a level of 1.1848.

Main scenario: short positions will be relevant from corrections below the level of 1.1848 with a target of 1.1320 – 1.1176.

Alternative scenario: breakout and consolidation above the level of 1.1848 will allow the pair to continue the rise up to the levels of 1.1991 – 1.2111.

Analysis: In the daily time frame, an upward impetus is formed as the first wave of senior level (1) and a downward correction continues forming as wave (2). In the 4-hour time frame, a downward impetus continues forming within the wave A of (2), with a correction wave iv of A completed inside. In the 1-hour time frame, apparently, the fifth wave v of A is forming, with an upward correction of junior level (ii) of v nearing completion inside. If the presumption is correct, the pair will continue to drop to the levels 1.1320 – 1.1176. The level 1.1848 is critical in this scenario.

EUR/USD: Wave analysis and forecast for 22/06/2018 – 29/06/2018

EUR/USD: Wave analysis and forecast for 22/06/2018 – 29/06/2018

EUR/USD: Wave analysis and forecast for 22/06/2018 – 29/06/2018

EUR/USD: Wave analysis and forecast for 22/06/2018 – 29/06/2018

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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