A bearish correction is nearing completion, the pair may rise.

Supposedly, the fourth wave of senior level iv, that is currently zigzag-shaped, is nearing completion. Apparently, an impetus within a wave (c) of iv is completed locally, and an upward price reversal is forming now. If the assumption is correct and the price consolidates above a level of 1.0930, the pair will continue growing within the fifth wave to the levels of 1.1500–1.1600. The level of 1.0520 is critical in this scenario.

Trading tips

Buy the pair from corrections above the level of 1.0930 with targets at 1.1200–1.1465.

Alternative scenario

The bearish correction may continue developing to the levels 1.0700–1.06 as part of the extending wave (c) of iv.

EUR/USD: wave analysis

EUR/USD: wave analysis

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