Estimated pivot point is at the level of 1.1366. 

Analysis: Supposedly, an upward trend in a form of the third wave of senior level 3 continues to develop within the 4-hour time frame. Apparently, the fifth wave v of 3 of junior level continues to form at the moment, and the correction (ii) in a form of an irregular plane is supposed to have ended within. If the presumption is correct, the pair will continue to rise to the levels 1.1550 – 1.1650. The level 1.1366 is critical in this scenario. 

Alternative scenario: Breakout and consolidation below the level of 1.1366 will allow the pair to continue declining to a level of 1.1245. 

Our opinion: Buy the pair from corrections above the level of 1.1366 with a target of 1.1550 – 1.1650. 




Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.



Follow us in social networks!
Live Chat
Leave feedback