A growth is expected.

Assumingly, the third wave of the senior level 3 is forming. Locally, the first wave i of 3 seems to be forming, within which the fifth wave (v) of i has started. If the assumption is correct, the pair continues growing to 1.1300-1.1400. A critical for this scenario is the level of 1.1013, the breakdown of which would allow the pair to continue falling to 1.0800-1.0700.

Trading tips

Buy the pair from corrections, above 1.1013 with the target at 1.1300-1.1400.

Alternative scenario

The breakdown and consolidation below the level of 1.1013 would allow the pair to continue falling to 1.0800-1.0700.

EUR/USD: wave analysis

EUR/USD: wave analysis

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