EUR/USD: wave analysis
08 July 2019, 09:25
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1.1223 |
| Take Profit | 1.1320, 1.1413 |
| Stop Loss | 1.1155 |
| Key Levels | 1.1105, 1.1320, 1.1413, 1.1060, 1.1000 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.1100 |
| Take Profit | 1.1060, 1.1000 |
| Stop Loss | 1.1130 |
| Key Levels | 1.1105, 1.1320, 1.1413, 1.1060, 1.1000 |
The pair is in a correction and may grow.
On the 4-hour chart, the downward correction of the higher level forms as the second wave 2. Now, the wave a of 2 has formed as a momentum. If the assumption is correct, in the short term, the pair will grow within the wave b of 2 to the level of 1.1320. In this scenario, critical stop loss level is 1.1105.
Main scenario
Long positions will become relevant above the level of 1.1105 with the targets at 1.1320–1.1413. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.1105 will let the pair go down to the levels of 1.1060–1.1000.
On the 4-hour chart, the downward correction of the higher level forms as the second wave 2. Now, the wave a of 2 has formed as a momentum. If the assumption is correct, in the short term, the pair will grow within the wave b of 2 to the level of 1.1320. In this scenario, critical stop loss level is 1.1105.
Main scenario
Long positions will become relevant above the level of 1.1105 with the targets at 1.1320–1.1413. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.1105 will let the pair go down to the levels of 1.1060–1.1000.
No comments:
Write comments