EUR/USD: wave analysis
28 June 2019, 09:23
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1.1366 |
| Take Profit | 1.1325, 1.1297 |
| Stop Loss | 1.1392 |
| Key Levels | 1.1297, 1.1325, 1.1392, 1.1460 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.1400 |
| Take Profit | 1.1460 |
| Stop Loss | 1.1370 |
| Key Levels | 1.1297, 1.1325, 1.1392, 1.1460 |
The pair is in a correction, a fall is possible.
On the 4-hour chart, the downward correction of the higher level formed as the second wave 2, and the development of the third wave 3 begins. Now, the first wave of the lower level 1 of (1) of 3 is forming, within which the wave iii of 1 has formed, and a correction is developing as the wave iv of 1. If the assumption is correct, in the short term, the pair will fall to the levels of 1.1325–1.1297. In this scenario, critical stop loss level is 1.1392.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1392 with the targets at 1.1325–1.1297. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1392 will let the pair grow to the level of 1.1460.
On the 4-hour chart, the downward correction of the higher level formed as the second wave 2, and the development of the third wave 3 begins. Now, the first wave of the lower level 1 of (1) of 3 is forming, within which the wave iii of 1 has formed, and a correction is developing as the wave iv of 1. If the assumption is correct, in the short term, the pair will fall to the levels of 1.1325–1.1297. In this scenario, critical stop loss level is 1.1392.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1392 with the targets at 1.1325–1.1297. Implementation period: 3–5 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1392 will let the pair grow to the level of 1.1460.
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