Estimated pivot point is at the level of 1.1096.

Our opinion: In the short-term: buy the pair above the level of 1.1096 with the target of 1.1190 – 1.1250. If the price breaks out and consolidates below the level of 1.1096, sell the pair with the target of 1.09 – 1.08.

Alternative scenario: Breakout and consolidation of the price below the level of 1.1096 will trigger the decline in the pair to 1.09 – 1.08.

Analysis: Presumably, the formation of the downward correction of the senior level continues, as the wave 2. Within this wave a final wave c of 2 is being developed. It seems that the formation of the flat correction as the wave (ii) is nearing completion. If this assumption is correct, after the completion of the correction the pair will continue to decline to 1.09 – 1.08.

EUR/USD H1

EUR/USD H4




Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.



Follow us in social networks!
Live Chat
Leave feedback