The article covers the following topics:
Key points and highlights
- Main scenario: Consider long positions from corrections above 1.0950 with growth target 1.1300 – 1.1500. Buy signal: after price stabilizes above 1.0950. Stop loss: below 1.0920, take profit: 1.1300 – 1.1500.
- Alternative scenario: Breakout and consolidation below 1.0950 will allow the pair to continue falling to 1.0773 – 1.0662 levels. Sell signal: after breaking 1.0950 to the downside. Stop loss: above 1.0980, Take profit: 1.0773 – 1.0662.
Main scenario
We should consider long positions from corrections above 1.0950 with a target of 1.1300 – 1.1500.
Alternative scenario
A breakout and stability below 1.0950 will allow the pair to continue declining to 1.0773 – 1.0662 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) continues to appear 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 1.1300 – 1.1500. The level of 1.0950 is important in this scenario. Its break will allow the pair to continue falling to the levels of 1.0773 – 1.0662.
EURUSD currency pair real time price chart
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