A growth is expected.

Assumingly, a Bearish correction as wave 2 of the senior level has finished forming and taken the shape of a flat with an elongated impulse in wave c of 2. Locally, a reversal is the pair is forming. If the assumption is correct, it is logical to expect a growth to, at least, 1.1100-1.1200. A critical for this scenario is the level of 1.0605.

Trading tips

Buy the pair form corrections, above the level of 1.0605 with the target at 1.1100-1.1200.

Alternative scenario

The breakdown and consolidation below the level of 1.0605 would allow the pair to continue declining to 1.0500-1.0450.

EUR/USD: wave analysis

EUR/USD: wave analysis

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