The pair is expected to rise due to correction

The fifth final wave continues to develop within bearish trend. Supposedly, the third wave (iii) of v of 5 has formed, and bullish correction in a form of fourth wave is likely to develop. The level 1.0490 is critical in this scenario.

Trading tips

Buy the pair from corrections above the level of 1.0490 with targets at 1.0728-1.0869.

Alternative scenario:

Breakdown and consolidation below the level of 1.0490 will allow the pair to continue declining to the levels 1.0400-1.0350.

 

EUR/USD: wave analysis

EUR/USD: wave analysis




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