EUR/USD: wave analysis
06 February 2019, 08:28
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.1393 |
| Take Profit | 1.1289, 1.1211 |
| Stop Loss | 1.1489 |
| Key Levels | 1.1211, 1.1289, 1.1489, 1.1568, 1.1623 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.1495 |
| Take Profit | 1.1568, 1.1623 |
| Stop Loss | 1.1460 |
| Key Levels | 1.1211, 1.1289, 1.1489, 1.1568, 1.1623 |
The pair may fall.
On the 4-hour chart, an upward correction of the higher level developed as the wave ii of C of (2). Now the third wave iii of C is forming, within which the local correction (ii) of iii has ended, and the development of the wave (iii) of iii has begun. If the assumption is correct, the pair will fall to the levels of 1.1289–1.1211. In this scenario, critical stop loss level is 1.1489.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1489 with the targets at 1.1289–1.1211. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1489 will let the pair grow to the levels of 1.1568–1.1623.
On the 4-hour chart, an upward correction of the higher level developed as the wave ii of C of (2). Now the third wave iii of C is forming, within which the local correction (ii) of iii has ended, and the development of the wave (iii) of iii has begun. If the assumption is correct, the pair will fall to the levels of 1.1289–1.1211. In this scenario, critical stop loss level is 1.1489.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1489 with the targets at 1.1289–1.1211. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1489 will let the pair grow to the levels of 1.1568–1.1623.
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