The pair growth possibility remains.

Supposedly, the development of the fifth wave within upward wedge continues. Locally, most likely a third wave (iii) of v is beginning to form, within which a starting impetus i of (iii) has formed and the correction in a form of the wave ii of (iii) is finishing. If the assumption is correct, the pair continues growing towards 1.1400-1.1500. Critical for this scenario is the level of 1.0940, the breakdown of which would lead to the continuation of the bear correction towards 1.0800-1.0700.

Trading tips

Open long positions above the level of 1.1118 with the target at 1.1400-1.1500.

Alternative scenario

The breakdown and consolidation below 1.0940 would allow the pair to continue falling towards 1.0800-1.0700.

EUR/USD: wave analysis

EUR/USD: wave analysis

EUR/USD: wave analysis




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