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Main scenario: Consider buying positions from corrections above 1.0788 with a target of 1.0978 – 1.1141.
Alternative scenario: Breaking and holding below the 1.0788 level will allow the pair to continue falling to the 1.0720 – 1.0591 levels.
analysis: A bullish wave B should develop on the daily chart, with the first corrective wave 1 of (A) of B forming within it. It is clear that the third wave 3 of (A) of B is developing on the H4 time frame, with the bearish corrective wave ii of 3 completing as part of it, forming wave iii of 3 of (A). The first countertrend wave of smaller degree (i) of iii continues to develop on the H1 time frame, with wave iii of (i) forming, the local corrective wave iv of (i) completing, and wave v of (i) unfolding as its parts. If this assumption is correct, then… Euro against the US dollar The pair will continue its rise to 1.0978 – 1.1141 once the correction is complete. The level of 1.0788 is important in this scenario. Breaking it will allow the pair to continue falling to the levels of 1.0720 – 1.0591.
EUR/USD price chart in real time mode
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