EUR/USD: wave analysis
10 September 2018, 09:49
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.1535 |
| Take Profit | 1.1460, 1.1450 |
| Stop Loss | 1.1600 |
| Key Levels | 1.1450, 1.1460, 1.1650, 1.1787, 1.1940 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.1655 |
| Take Profit | 1.1787, 1.1940 |
| Stop Loss | 1.1600 |
| Key Levels | 1.1450, 1.1460, 1.1650, 1.1787, 1.1940 |
The pair can decrease.
On the 4-hour chart, the downward momentum of the higher level A of (2) formed, and the development of the upward correction began as a wave B of (2). Now the wave a of B has formed, and the wave b of B is developing, within which the wave (c) of b of the lower level is forming. If the assumption is correct, the pair will fall to the levels of 1.1460–1.1450. In this scenario, critical stop loss level is 1.1650.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1650 with the targets at 1.1460–1.1450. Implementation period: 2–3 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1650 will let the pair grow to the levels of 1.1787–1.1940.
On the 4-hour chart, the downward momentum of the higher level A of (2) formed, and the development of the upward correction began as a wave B of (2). Now the wave a of B has formed, and the wave b of B is developing, within which the wave (c) of b of the lower level is forming. If the assumption is correct, the pair will fall to the levels of 1.1460–1.1450. In this scenario, critical stop loss level is 1.1650.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1650 with the targets at 1.1460–1.1450. Implementation period: 2–3 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1650 will let the pair grow to the levels of 1.1787–1.1940.
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