EUR/USD: wave analysis
17 June 2019, 09:20
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.1213 |
| Take Profit | 1.1447, 1.1571 |
| Stop Loss | 1.1106 |
| Key Levels | 1.0950, 1.1020, 1.1106, 1.1447, 1.1571 |
| 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, 1.1447, 1.1571 |
The pair may grow.
On the daily chart, the downward correction of the higher level formed as the second wave 2, which reached the correctional level 62% and took a shape of a zigzag with a diagonal within the wave (C) of 2. Now, the development of the third wave of the higher level 3 is beginning, within which the first wave of the lower level i of 1 of (1) of 3 has formed, and the local correction ii of 1 is developing. If the assumption is correct, after the end of the correction, the pair will grow to the levels of 1.1447–1.1571. In this scenario, critical stop loss level is 1.1106.
Main scenario
Long positions will become relevant during the correction, above the level of 1.1106 with the targets at 1.1447–1.1571. Implementation period: 7 days and more.
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 daily chart, the downward correction of the higher level formed as the second wave 2, which reached the correctional level 62% and took a shape of a zigzag with a diagonal within the wave (C) of 2. Now, the development of the third wave of the higher level 3 is beginning, within which the first wave of the lower level i of 1 of (1) of 3 has formed, and the local correction ii of 1 is developing. If the assumption is correct, after the end of the correction, the pair will grow to the levels of 1.1447–1.1571. In this scenario, critical stop loss level is 1.1106.
Main scenario
Long positions will become relevant during the correction, above the level of 1.1106 with the targets at 1.1447–1.1571. Implementation period: 7 days and more.
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.
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