EUR/USD: wave analysis
05 September 2018, 09:29
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.1571 |
| Take Profit | 1.1787, 1.1940 |
| Stop Loss | 1.1500 |
| Key Levels | 1.1300, 1.1500, 1.1787, 1.1940 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.1490 |
| Take Profit | 1.1300 |
| Stop Loss | 1.1555 |
| Key Levels | 1.1300, 1.1500, 1.1787, 1.1940 |
The pair can grow.
On the 4-hour chart, the downward momentum of the higher level A of (2) formed, and the development of the upward correction as a wave B of (2) has begun. Now the wave a of B has formed, and the wave b of B is developing. If the assumption is correct, after the end of the wave the pair will grow to the levels of 1.1787–1.1940. In this scenario, critical stop loss level is 1.1500.
Main scenario
Long positions will become relevant during the correction, above the level of 1.1500 with the targets at 1.1787–1.1940. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.1500 will let the pair go down to the level of 1.1300.
On the 4-hour chart, the downward momentum of the higher level A of (2) formed, and the development of the upward correction as a wave B of (2) has begun. Now the wave a of B has formed, and the wave b of B is developing. If the assumption is correct, after the end of the wave the pair will grow to the levels of 1.1787–1.1940. In this scenario, critical stop loss level is 1.1500.
Main scenario
Long positions will become relevant during the correction, above the level of 1.1500 with the targets at 1.1787–1.1940. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.1500 will let the pair go down to the level of 1.1300.
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