EUR/USD: wave analysis
29 March 2018, 09:55
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.2316 |
| Take Profit | 1.2650 |
| Stop Loss | 1.2205 |
| Key Levels | 1.2150, 1.2238, 1.2650 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.2230 |
| Take Profit | 1.2150 |
| Stop Loss | 1.2290 |
| Key Levels | 1.2150, 1.2238, 1.2650 |
The pair can grow.
On the 4-hour chart, the upward trend within the first wave (1) of the higher level is developing. Now the fifth wave of the lower level v of 5 of (1), within which the third wave (iii) of v is developing, is forming. If the assumption is correct, the pair will grow to the level of 1.2650. The level of 1.2238 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 1.2238 with the target at 1.2650.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2238 will let the pair go down to the level of 1.2150.
On the 4-hour chart, the upward trend within the first wave (1) of the higher level is developing. Now the fifth wave of the lower level v of 5 of (1), within which the third wave (iii) of v is developing, is forming. If the assumption is correct, the pair will grow to the level of 1.2650. The level of 1.2238 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 1.2238 with the target at 1.2650.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2238 will let the pair go down to the level of 1.2150.
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