Correction continues. The pair is likely to grow.Коррекция продолжается.  

Presumably, the formation of the third wave iii, of the senior level has completed on the four-hour timeframe. At the moment, the “bearish” correction is being developed as the fourth wave. Locally, the first wave of the junior level (a) of iv has completed. If this assumption is correct, in the short-term the pair will grow up to 1.1300 in the wave (b). Critical level for this scenario is 1.1126.

Trading tips

It makes sense to buy the pair from correction above the level of 1.1126 with the target of 1.1300.

Alternative scenario

Breakdown of the level of 1.1126 and consolidation below this level will enable the price to continue decline to 1.1050-1.0950.

EUR/USD: wave analysis

EUR/USD: wave analysis

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