EUR/USD: wave analysis
06 December 2018, 08:23
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.1338 |
| Take Profit | 1.1511, 1.1586 |
| Stop Loss | 1.1266 |
| Key Levels | 1.1150, 1.1200, 1.1266, 1.1511, 1.1586 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.1260 |
| Take Profit | 1.1200, 1.1150 |
| Stop Loss | 1.1295 |
| Key Levels | 1.1150, 1.1200, 1.1266, 1.1511, 1.1586 |
The pair may grow.
On the 4-hour chart, a downward correction of the higher level develops as a wave (2), within which the wave C of (2) forms. Now an upward correction is developing as a second wave ii of C, within which the wave (c) of iii is developing. If the assumption is correct, the pair will grow to the levels of 1.1511–1.1586. In this scenario, critical stop loss level is 1.1266.
Main scenario
Long positions will become relevant during the correction, above the level of 1.1266 with the targets at 1.1511–1.1586. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.1266 will let the pair go down to the levels of 1.1200–1.1150.
On the 4-hour chart, a downward correction of the higher level develops as a wave (2), within which the wave C of (2) forms. Now an upward correction is developing as a second wave ii of C, within which the wave (c) of iii is developing. If the assumption is correct, the pair will grow to the levels of 1.1511–1.1586. In this scenario, critical stop loss level is 1.1266.
Main scenario
Long positions will become relevant during the correction, above the level of 1.1266 with the targets at 1.1511–1.1586. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.1266 will let the pair go down to the levels of 1.1200–1.1150.
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