OANDA:EURUSD   Euro / U.S. Dollar
52 0 3
The trend is upward.

On the 4-hour chart, the upward trend is developing within the first wave (1) of the higher level. Now the fifth wave of the lower level v of 5 of (1) is developing, within which the entering momentum has formed as a wave (i) of v, and the correction (ii) has ended. If the assumption is correct, the pair will grow to the level of 1.2650. The level of 1.2152 is critical for this scenario.

Main scenario

Long positions will become relevant during the correction, above the level of 1.2152 with the target at 1.2650.

Alternative scenario

The breakdown and the consolidation of the price below the level of 1.2152 will let the pair go down to the level of 1.1915.

Trade

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 1.2334
Take Profit 1.2650
Stop Loss 1.2230
Key Levels 1.1915, 1.2152, 1.2650

Alternative scenario

Recommendation SELL STOP
Entry Point 1.2145
Take Profit 1.1915
Stop Loss 1.2220
Key Levels 1.1915, 1.2152, 1.2650
More analytic from LiteForex:
English https://www.liteforex.com/blog/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
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