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The article covers the following topics:
Key points and highlights
- Main scenario: Consider long positions from corrections above 1.0771 with growth target 1.1141 – 1.1273. Buy signal: after the price returns above 1.0771. Stop loss: below 1.0740, take profit: 1.1141 – 1.1273.
- Alternative scenario: Breakout and consolidation below 1.0771 will allow the pair to continue falling to 1.066 – 1.0515 levels. Sell signal: After breaking 1.0771 to the downside. Stop loss: above 1.0800, Take profit: 1.0660 – 1.0515
Main scenario
Consider long positions from corrections above 1.0771 with target 1.1141 – 1.1273.
Alternative scenario
A breakout and stability below 1.0771 will allow the pair to continue falling to 1.066 – 1.0515 levels.
analysis
An upside wave B is supposed to develop on the daily timeframe, with the third wave 3 of (A) of B appearing as part of it. A third wave of the smaller third degree of (A) appears to be forming on the H4 timeframe, with wave (iii) of iii appearing as part of it. A local correction has finished forming with the appearance of wave ii of (iii), and wave iii of (iii) unfolding on the H1 chart. If the assumption is correct, then wave 3 of (A) is forming on the H1 timeframe. Euro vs US Dollar The pair will continue to rise to the levels of 1.1141 – 1.1273. The level of 1.0771 is important in this scenario. Its break will allow the pair to continue falling to the levels of 1.066 – 1.0515.
EURUSD Real Time Price Chart
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