EUR/USD: wave analysis
03 April 2018, 09:30
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.2312 |
| Take Profit | 1.2135 |
| Stop Loss | 1.2375 |
| Key Levels | 1.2135, 1.2346, 1.2480 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.2350 |
| Take Profit | 1.2480 |
| Stop Loss | 1.2290 |
| Key Levels | 1.2135, 1.2346, 1.2480 |
The pair can decrease within the correction.
On the 4-hour chart, the upward trend is developing within the first wave (1) of the higher level. Now the fifth wave of the lower level v of 5 of (1), within which the downward correction is developing as a fourth wave (iv) of v, is forming. If the assumption is correct, the pair will fall to the level of 1.2135. The level of 1.2346 is critical for this scenario.
Main scenario
Short positions will become relevant below the level of 1.2346 with the target at 1.2135.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.2346 will let the pair grow to the level of 1.2480.
On the 4-hour chart, the upward trend is developing within the first wave (1) of the higher level. Now the fifth wave of the lower level v of 5 of (1), within which the downward correction is developing as a fourth wave (iv) of v, is forming. If the assumption is correct, the pair will fall to the level of 1.2135. The level of 1.2346 is critical for this scenario.
Main scenario
Short positions will become relevant below the level of 1.2346 with the target at 1.2135.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.2346 will let the pair grow to the level of 1.2480.
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