EUR/USD: wave analysis
15 September 2017, 08:42
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.1917 |
| Take Profit | 1.1800, 1.1700 |
| Stop Loss | 1.1980 |
| Key Levels | 1.1700, 1.1800, 1.1994, 1.2200, 1.2400 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.2000 |
| Take Profit | 1.2200, 1.2400 |
| Stop Loss | 1.1930 |
| Key Levels | 1.1700, 1.1800, 1.1994, 1.2200, 1.2400 |
The fall of the pair is expected.
On the 4-hour chart the development of the upward momentum as a first wave (1) of the higher level has ended, and the formation of the downward correction (2) has begun. At the moment the entering momentum of the lower level i of A of (2) is developing. If the assumption is correct, the pair will fall to the levels of 1.1800–1.1700. The level of 1.1994 is critical for this scenario.
Main scenario
Short positions can be opened during the correction, below the level of 1.1994 with the targets at 1.1800–1.1700.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1994 will let the pair grow to the levels of 1.2200–1.2400.
On the 4-hour chart the development of the upward momentum as a first wave (1) of the higher level has ended, and the formation of the downward correction (2) has begun. At the moment the entering momentum of the lower level i of A of (2) is developing. If the assumption is correct, the pair will fall to the levels of 1.1800–1.1700. The level of 1.1994 is critical for this scenario.
Main scenario
Short positions can be opened during the correction, below the level of 1.1994 with the targets at 1.1800–1.1700.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1994 will let the pair grow to the levels of 1.2200–1.2400.
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