FX:EURUSD   Euro / U.S. Dollar
87 views
6
87 0
The pair may fall.

On the 4-hour chart, a downward correction of the higher level develops as the wave 2, within which the fifth wave 5 of (C) of 2 forms. Now, the wave c of 5 of the lower level is developing, within which the wave (v) of c is forming. If the assumption is correct, the pair will fall to the levels of 1.0850–1.0800. In this scenario, critical stop loss level is 1.0997.

Main scenario

Short positions will become relevant during the correction, below the level of 1.0997 with the targets at 1.0850–1.0800. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price above the level of 1.0997 will let the pair grow to the levels of 1.1250–1.1414.

Scenario

Timeframe Weekly
Recommendation SELL
Entry Point 1.0952
Take Profit 1.0850, 1.0800
Stop Loss 1.0997
Key Levels 1.0800, 1.0850, 1.0997, 1.1250, 1.1414

Alternative scenario

Recommendation BUY STOP
Entry Point 1.1005
Take Profit 1.1250, 1.1414
Stop Loss 1.0925
Key Levels 1.0800, 1.0850, 1.0997, 1.1250, 1.1414
Register on LiteForex site and get more analysis https://www.liteforex.com/?uid=880952068&cid=12118
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out