EUR/USD: wave analysis
16 January 2019, 08:34
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.1406 |
| Take Profit | 1.1586, 1.1620 |
| Stop Loss | 1.1311 |
| Key Levels | 1.1150, 1.1211, 1.1311, 1.1586, 1.1620 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.1305 |
| Take Profit | 1.1211, 1.1150 |
| Stop Loss | 1.1365 |
| Key Levels | 1.1150, 1.1211, 1.1311, 1.1586, 1.1620 |
The pair may grow.
On the 4-hour chart, an upward correction of the higher level develops as the wave ii of C of (2). Now, the wave (c) of ii is forming, within which the third wave of the lower level iii of (c) has formed, and the correction is ending as the wave iv of (c). If the assumption is correct, the pair will grow to the levels of 1.1586–1.1620. In this scenario, critical stop loss level is 1.1311.
Main scenario
Long positions will become relevant during the correction, above the level of 1.1311 with the targets at 1.1586–1.1620. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.1311 will let the pair go down to the levels of 1.1211–1.1150.
On the 4-hour chart, an upward correction of the higher level develops as the wave ii of C of (2). Now, the wave (c) of ii is forming, within which the third wave of the lower level iii of (c) has formed, and the correction is ending as the wave iv of (c). If the assumption is correct, the pair will grow to the levels of 1.1586–1.1620. In this scenario, critical stop loss level is 1.1311.
Main scenario
Long positions will become relevant during the correction, above the level of 1.1311 with the targets at 1.1586–1.1620. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.1311 will let the pair go down to the levels of 1.1211–1.1150.
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