Uptrend prevails.

Presumably, the fifth wave is being developed in the one-two wedge. Currently, the third wave of the junior level (iii) of v is being formed. If this assumption is correct and the price does not break down the critical level of 1.1204, the pair can rise up to 1.1700.

Trading tips

Buy the pair from correction above the level of 1.1204 with the target of 1.1700.

Alternative scenario

Breakdown and consolidation of the price below the level of 1.1204 will enable the price to go down to1.1000.

EUR/USD: wave analysis

EUR/USD: wave analysis

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