EUR/USD: wave analysis
06 April 2018, 09:33
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL |
| Entry Point | 1.2232 |
| Take Profit | 1.2135 |
| Stop Loss | 1.2290 |
| Key Levels | 1.2135, 1.2314, 1.2480 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.2320 |
| Take Profit | 1.2480 |
| Stop Loss | 1.2255 |
| Key Levels | 1.2135, 1.2314, 1.2480 |
The pair can decrease.
On the 4-hour chart, the horizontal correction is forming as a fourth wave iv of v within the first wave (1) of the higher level. Now the wave (c) of iv of the lower level is developing. If the assumption is correct, the pair will fall to the level of 1.2135. The level of 1.2314 is critical for this scenario.
Main scenario
Short positions will become relevant below the level of 1.2314 with the target at 1.2135.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.2314 will let the pair grow to the level of 1.2480.
On the 4-hour chart, the horizontal correction is forming as a fourth wave iv of v within the first wave (1) of the higher level. Now the wave (c) of iv of the lower level is developing. If the assumption is correct, the pair will fall to the level of 1.2135. The level of 1.2314 is critical for this scenario.
Main scenario
Short positions will become relevant below the level of 1.2314 with the target at 1.2135.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.2314 will let the pair grow to the level of 1.2480.
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