Uptrend remains in force.

The formation of the third wave (iii) of the senior level continues on the hourly timeframe. Locally, it is likely that the third wave of the junior level iii of (iii) is being developed. If this assumption is correct and the price does not break down the critical level of 1.0658, the pair will continue to rise up to 1.1050.

Trading tips

Buy the pair from correction above the level of 1.0818 with the target of 1.1050.

Alternative scenario

Breakdown of the level of 1.0818 and consolidation below this level will enable the price to continue declining to 1.0658.

EUR/USD: wave analysis

EUR/USD: wave analysis

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