The pair is likely to rise.

Presumably, the formation of the third wave in the four-hour timeframe continues. At the moment, it seems that the first in-lead wave (i) and correction to it (ii) have been formed. Locally, the wave (iii) is being developed. If this assumption is correct and the price does not break down the critical level of 1.0658, the pair is likely to continue to grow up to 1.10 - 1.1050.

Trading tips

Buy the pair from correction above the level of 1.0658 with the target of 1.1000 - 1.1050.

Alternative scenario

Breakdown of the level of 1.0658 and consolidation below this level will enable the price to continue to decline to 1.0500 or even lower.

EUR/USD: wave analysis

EUR/USD: wave analysis

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