A growth is expected. 

Within the 4-hour timeframe, assumingly, the correction of the senior level as the wave 2 has finished, and a growth within the third wave is expected. Locally, the first wave of the junior level i of 3 seems to be forming, within which the wave (ii) has formed. If the assumption is correct and the price does not break through the critical level of 1.0885, the pair will continue growing towards 1.1200-1.1400. The breakdown of the critical level would allow the pair to continue falling towards 1.0700. 

Trading tips 

Buy the pair above 1.0885, with the target at 1.1200-1.1400. 

Alternative Scenario 

The breakdown and consolidation below 1.0885 would allow the pair to continue falling towards 1.0700-1.0650. 

EUR/USD: wave analysis

EUR/USD: wave analysis




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