A downward correction continues.

A local correction as the second wave ii of 3 continues forming, which is currently taking the shape of a zigzag (a)(b)(c). Locally, the final wave (c) of 2 seems to be forming, within which a fall in the pair towards 1.0730 is expected. Critical for this scenario is the level of 1.0942.

Trading tips

Sell the pair below the level of 1.0942 with the target at 1.0730.

Alternative scenario

The breakout and consolidation above the level of 1.0942 would allow the pair to grow to 1.1400, 1.1500.

EUR/USD: wave analysis

EUR/USD: wave analysis

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