EUR/USD: wave analysis
10 August 2018, 09:42
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL |
| Entry Point | 1.1466 |
| Take Profit | 1.1439 |
| Stop Loss | 1.1621 |
| Key Levels | 1.1439, 1.1621, 1.1745 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.1630 |
| Take Profit | 1.1745 |
| Stop Loss | 1.1590 |
| Key Levels | 1.1439, 1.1621, 1.1745 |
The trend is downward.
On the 4-hour chart, the downward momentum of the higher level A of (2) forms. Now the fifth wave v of A is developing, within which the correction of the lower level has formed as a wave (ii) of v, and the wave (iii) of v is developing. If the assumption is correct, the pair will fall to the level of 1.1439. The level of 1.1621 is critical and stop loss for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1621 with the target at 1.1439. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1621 will let the pair grow to the level of 1.1745.
On the 4-hour chart, the downward momentum of the higher level A of (2) forms. Now the fifth wave v of A is developing, within which the correction of the lower level has formed as a wave (ii) of v, and the wave (iii) of v is developing. If the assumption is correct, the pair will fall to the level of 1.1439. The level of 1.1621 is critical and stop loss for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1621 with the target at 1.1439. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1621 will let the pair grow to the level of 1.1745.
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