EUR/USD – The third act of the second act?

Hello everyone,

as anticipated in my last analysis, EUR/USD is knocking on key decision level 1. And as in real life, this results in several possibilities…

Scenario 1 (blue line // 60% chance)

Wave b of B is ending at key decision level 1 (blue bar, red box), EUR/USD turns down (wave c) to complete wave B of higher wave degree (yellow box). From there we will maybe get a good chance to go long again. Until then short – if you like. Be careful and keep an eye on the other scenarios!

Scenario 2 (green line // 30% chance)

a-b-c correction is completed, EUR/USD has built a wave 1 already and is now heading down to complete wave 2. From there EUR/USD is heading to 1.20 and even more.

Scenario 3 (grey line // 10% chance)

EUR/USD has completed correction and is directly heading for 1.20 and maybe higher.

Please leave a comment or a message if you like!

Take care,
tgo

Comment:

Hello everyone,
the blue-line-scenario has made it!
So I think EUR/USD is in the last turn before completing the correction pattern of 5 of c of B, as you can see in the chart below (yellow circle: ideal truning point wave 4 to wave 5).
Now we are in wave 4 which could easily rise to 1.1660 and, technically, even higher to 1.1720, but this I think won't happen.
The ideal truning point of wave 5 of c of B is the region between 1.1450 and 1.15 at the moment. A perfect entry for al longtrade.
I will adjust the yellow trading box in due time, if the market gives me reason to do so.

Take care,
tgo