The pair is under correction.

Supposedly, the third wave of senior level iii on H4 timeframe has finished forming. Locally, we can see a clear completed impetus within the third wave and the start of correction in the fourth wave. If this assumption is correct and the price does not break the critical level of 1.1391, the pair will logically continue to decline to a level of 1.1060.

Trading tips

Sell the pair from corrections below the level of 1.1391 with a target at 1.1060.

Alternative scenario

Breakout and consolidation above the level of 1.1391 will allow the pair to continue the rise up to a level of 1.1500.

EUR/USD: wave analysis

EUR/USD: wave analysis

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