The pair EUR/USD is still likely to fall. Estimated pivot point is at a level of 1.1800.

Main scenario: short positions will be relevant from corrections below the level of 1.1800 with a target of 1.1550 – 1.1495.

Alternative scenario: breakout and consolidation above the level of 1.1800 will allow the pair to continue rising to a level of 1.1940.

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 w of B formed and the wave x of B developing inside. Apparently, a descending impetus of junior level is developing on the H1 frame in the form of wave (a) of x. If the presumption is correct, the pair will continue to drop to the levels 1.1550 – 1.1495. The level 1.1800 is critical in this scenario.

EUR/USD: Wave analysis and forecast for 28/09/2018 – 05/10/2018

EUR/USD: Wave analysis and forecast for 28/09/2018 – 05/10/2018

EUR/USD: Wave analysis and forecast for 28/09/2018 – 05/10/2018


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Price chart of EURUSD in real time mode

EUR/USD: Wave analysis and forecast for 28/09/2018 – 05/10/2018

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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