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




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