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

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