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

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