European currency do not give up.

Supposedly, the fifth wave development within the upward wedge continues. Locally, a bear correction of the junior level in a form of wave (ii) of v is probably finished, and a small impetus i within the third wave (iii) of v is formed. If the assumption is correct, the pair continues its growth towards 1.1400-1.1500. The key level remains 1.0940 the breakout of which would lead to the continuation of bear correction towards 1.0800-1.0700. 

Trading tips

Open long positions above the level of 1.0940 with the target at 1.1400-1.1500.

Alternative scenario

In case of the breakdown and consolidation below 1.0940, open short positions with the target at 1.0800-1.0700.

EUR/USD: wave analysis

EUR/USD: wave analysis

The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Follow us in social networks!
Live Chat
Leave feedback