An upward trend is strong.

A Bearish correction of the senior level has finished. At present, the third wave seems to have started developing within which a starting impetus (i) has formed. Locally, a correction in wave (ii) seems to be developing and if the assumption is correct, the pair continues growing towards 1.1300, 1.1400 after it ends. A critical for this scenario is the level of 1.0520.

Trading tips

Buy the pair above the level of 1.0520 with targets at 1.1300, 1.1400.

Alternative scenario

The breakdown and consolidation below the level of 1.0520 would allow the pair to fall to 1.0450, 1.0400.

EUR/USD: wave analysis

EUR/USD: wave analysis

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