The pair EUR/USD is still likely to grow. Estimated pivot point is at a level of 1.1311.

Main scenario: long positions will be relevant from corrections above the level of 1.1311 with a target of 1.1511 – 1.1586.

Alternative scenario: Breakout and consolidation below the level of 1.1311 will allow the pair to continue declining to the levels of 1.1213 – 1.1150.

Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues to develop within the daily frame. Presumably the wave С of (2) is developing on H4 timeframe, with the wave i of C formed and an ascending correction forming as wave ii of C inside. On H1 timeframe, apparently the wave (a) of ii has formed. If the presumption is correct, the pair will logically continue growing to 1.1511 – 1.1586 once the wave (b) of ii has finished. The level 1.1311 is critical in this scenario.

EUR/USD: Wave analysis and forecast for 23/11/2018 – 30/11/2018

EUR/USD: Wave analysis and forecast for 23/11/2018 – 30/11/2018

EUR/USD: Wave analysis and forecast for 23/11/2018 – 30/11/2018


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Price chart of EURUSD in real time mode

EUR/USD: Wave analysis and forecast for 23/11/2018 – 30/11/2018

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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