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




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