EURUSD Wave Analysis

FX:EURUSD   Euro / U.S. Dollar
119 1 2
The pair is likely to grow.

Estimated pivot point is at a level of 1.0520.

Buy the pair from correction above the level of 1.0520 with the target of 1.15 – 1.20.

Alternative scenario: Breakout and consolidation of the price below the level of 1.0520 will trigger the decline in the pair to the levels of 1.0450 – 1.04.

Analysis: The formation of the “bearish” correction as the wave 2 has completed. At the moment, it is likely that the third wave 3 is being developed, in which the first wave i of 3 is being formed. If this assumption is correct and the price does not break down the critical level of 1.0520, the pair will continue to rise up to the levels of 1.15 – 1.20.
How does that last (iv)th wave go into the first wave's area?
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