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Main scenario: Consider buying positions from corrections above 1.0664 with a target of 1.0978 – 1.1141.
Alternative scenario: Breaking and holding below the 1.0664 level will allow the pair to continue falling to the 1.0450 – 1.0217 levels.
analysis: A bullish wave B should develop on the daily chart, with the first corrective wave 1 of (A) of B forming and the second corrective wave 2 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, where the bearish corrective wave ii of 3 is completed and wave iii of 3 of (A) is forming. The H1 time frame shows that the first countertrend wave of smaller degree (i) of iii has been formed, a local correction has developed as the second wave (ii) of iii, and wave (iii) of iii is assumed to have begun to unfold. 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 1.0664 is considered crucial in this scenario. Breaking it will allow the pair to continue falling to the levels of 1.0450 – 1.0217.
EURUSD price chart in real time mode
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