A growth is expected.

Assumingly, a Bearish impulse within wave c of 2 has finished forming. Locally, the fifth wave (v) seems to have finished forming and taken the shape of a wedge. At present, a staring wave of the junior level i has formed. If the assumption is correct and the price does not break down the critical level of 1.0557, a growth in the third wave of the senior level is to be expected.

Trading tips

Buy the pair from corrections, above the level of 1.0557 with the target at 1.1100-1.1200.

Alternative scenario

The breakdown and consolidation below the level of 1.0557 would allow the pair to continue declining to 1.0500-1.0450 and, possibly, lower.

EUR/USD: wave analysis

EUR/USD: wave analysis

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

Follow us in social networks!
Live Chat
Leave feedback