EUR/USD: wave analysis
11 December 2018, 10:06
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.1372 |
| 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 | 1.1280 |
| Key Levels | 1.1150, 1.1200, 1.1266, 1.1511, 1.1586 |
The price is in the correction; the probability of growth remains.
On the H4 chart, presumably, the downward correction of the higher level is developing as a wave (2), which includes the wave C of (2). At the moment, the upward correction is forming as the second wave ii of C, within which wave (c) of ii is developing. If the assumption is correct, the pair will continue to rise to the levels of 1.1511–1.1586. The critical level for this scenario is 1.1266.
Main scenario
Long positions will become relevant above the level of 1.1266 with a target in the range of 1.1511–1.1586. Implementation period: 5-7 days.
Alternative scenario
Breakdown and consolidation of the price below the level of 1.1266 will allow the pair to decline to the levels of 1.1200–1.1150.
On the H4 chart, presumably, the downward correction of the higher level is developing as a wave (2), which includes the wave C of (2). At the moment, the upward correction is forming as the second wave ii of C, within which wave (c) of ii is developing. If the assumption is correct, the pair will continue to rise to the levels of 1.1511–1.1586. The critical level for this scenario is 1.1266.
Main scenario
Long positions will become relevant above the level of 1.1266 with a target in the range of 1.1511–1.1586. Implementation period: 5-7 days.
Alternative scenario
Breakdown and consolidation of the price below the level of 1.1266 will allow the pair to decline to the levels of 1.1200–1.1150.
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