OANDA:EURUSD   Euro / U.S. Dollar
36 0
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.



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
Register on LiteForex site and get more analysis https://www.liteforex.com/?uid=880952068&cid=12118
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out