EUR/USD: wave analysis
28 May 2018, 09:24
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.1714 |
| Take Profit | 1.1864, 1.1980 |
| Stop Loss | 1.1640 |
| Key Levels | 1.1550, 1.1600, 1.1640, 1.1864, 1.1980 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.1630 |
| Take Profit | 1.1600, 1.1550 |
| Stop Loss | 1.1660 |
| Key Levels | 1.1550, 1.1600, 1.1640, 1.1864, 1.1980 |
The pair can grow.
On the 4-hour chart, the downward momentum of the higher level is forming as a wave A of (2). Now the third wave of the lower level iii of А is developing, and the development of a correctional growth of the pair within the fourth wave iv of A begins. If the assumption is correct, the pair will grow to the levels of 1.1864–1.1980. The level of 1.1640 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant above the level of 1.1640 with the targets at 1.1864–1.1980. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.1640 will let the pair go down to the levels of 1.1600–1.1550.
On the 4-hour chart, the downward momentum of the higher level is forming as a wave A of (2). Now the third wave of the lower level iii of А is developing, and the development of a correctional growth of the pair within the fourth wave iv of A begins. If the assumption is correct, the pair will grow to the levels of 1.1864–1.1980. The level of 1.1640 is critical and stop-loss for this scenario.
Main scenario
Long positions will become relevant above the level of 1.1640 with the targets at 1.1864–1.1980. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.1640 will let the pair go down to the levels of 1.1600–1.1550.
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