A growth in the pair is possible.

A Bearish correction of the senior level has finished forming. Assumingly, the third wave has started developing within which the first wave i of 3 is forming. Locally, the third wave of the junior level (iii) seems to be nearing the end. If the assumption is correct, the pair continues growing towards 1.1200-1.1500 after the correction ends. A critical for this scenario is the level of 1.0794.

Trading tips

Buy the pair form corrections, above the level of 1.0794 with the target at 1.1200-1.1500.

Alternative scenario

The breakdown and consolidation below the level of 1.0794 would allow the pair to continue declining to 1.0650 within a deeper correction.

EUR/USD: wave analysis

EUR/USD: wave analysis




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