OANDA:EURUSD   Euro / U.S. Dollar
36 0 1
The pair is in a correction, the fall is possible.

On the 4-hour chart, the fifth wave 5 of (1) of the higher level is forming. Now the development of the third wave of the lower level iii             of 5 has ended, and the formation of the downward correction iv of 5 has begun. If the assumption is correct, the price will fall to the levels of 1.2216–1.2118. The level of 1.2493 is critical for this scenario.

Main scenario

Short positions will become relevant during the correction, below the level of 1.2493 with the targets at 1.2216–1.2118.

Alternative scenario

The breakout and the consolidation of the price above the level of 1.2493 will let the pair grow to the levels of 1.2650–1.2700.

Trade

Scenario

Timeframe Weekly
Recommendation SELL
Entry Point 1.2364
Take Profit 1.2216, 1.2118
Stop Loss 1.2425
Key Levels 1.2118, 1.2216, 1.2493, 1.2650, 1.2700

Alternative scenario

Recommendation BUY STOP
Entry Point 1.2500
Take Profit 1.2650, 1.2700
Stop Loss 1.2440
Key Levels 1.2118, 1.2216, 1.2493, 1.2650, 1.2700
More analytic from LiteForex:
English https://www.liteforex.com/trading/forex-analysis/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
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