Uptrend continues

Supposedly, the fifth wave in a counter-trend wedge of senior level is forming at the moment. Apparently, the fifth final wave is developing now, but there's a possibility of the development of the last diagonal triangle. Locally, we can see the completed fourth wave of junior level (iv) and the fifth wave (v) developing with a minimum target at 1.1465. The level 1.1040 is critical in both scenarios.

Trading tips

Buy the pair from corrections above the level of 1.1040 with targets at 1.1465–1.1650.

Alternative scenario

Breakout and consolidation below the level of 1.1040 will allow the pair to continue declining to the levels 1.0700–1.0650.

EUR/USD: wave analysis

EUR/USD: wave analysis

EUR/USD: wave analysis

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