EUR/USD: wave analysis
30 May 2019, 09:26
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.1131 |
| Take Profit | 1.1270, 1.1313 |
| Stop Loss | 1.1106 |
| Key Levels | 1.0950, 1.1020, 1.1106, 1.1270, 1.1313 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.1100 |
| Take Profit | 1.1020, 1.0950 |
| Stop Loss | 1.1160 |
| Key Levels | 1.0950, 1.1020, 1.1106, 1.1270, 1.1313 |
The pair is in a correction and may grow.
On the 4-hour chart, the third wave of the higher level iii of C of (2) forms. Now, the wave of the lower level (i) of iii of C has formed, and an upward correction is developing as the wave (ii) of iii. If the assumption is correct, the pair will grow to the levels of 1.1270–1.1313. In this scenario, critical stop loss level is 1.1106.
Main scenario
Long positions will become relevant above the level of 1.1106 with the targets at 1.1270–1.1313. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.1106 will let the pair go down to the levels of 1.1020–1.0950.
On the 4-hour chart, the third wave of the higher level iii of C of (2) forms. Now, the wave of the lower level (i) of iii of C has formed, and an upward correction is developing as the wave (ii) of iii. If the assumption is correct, the pair will grow to the levels of 1.1270–1.1313. In this scenario, critical stop loss level is 1.1106.
Main scenario
Long positions will become relevant above the level of 1.1106 with the targets at 1.1270–1.1313. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.1106 will let the pair go down to the levels of 1.1020–1.0950.
No comments:
Write comments