A growth is expected.

Assumingly, the third wave iii of 3 continues forming, within which a starting impetus as the first wave of the junior level (i) is forming. Locally, the third wave iii of (i) seems to have finished, and a correction is forming. If the assumption is correct, after the correction, the pair continues growing to the level of 1.1500,where the starting impetus is expected to finish. A critical for this scenario is the level of 1.1080, the breakdown of which would allow the pair to continue declining within a correction towards 1.0900-1.0850.

Trading tips

Buy the pair from corrections, above the level of 1.1080 with targets at 1.1500-1.1800.

Alternative scenario

The breakdown and consolidation below the level of 1.1080 would allow the pair to decline further to 1.0900-1.0850.

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