OANDA:EURUSD   Euro / U.S. Dollar
43 0 0
The growth of the pair is expected.

On the 4-hour chart, the fifth wave 5 of (1) of the higher level is forming. Now the development of the downward correction as a fourth wave iv of 5, which has taken a form of a flat (a)(b)(c), has ended. If the assumption is correct, the price will grow to the levels of 1.2650–1.2700. The level of 1.2311 is critical for this scenario.

Main scenario

Long positions will become relevant during the correction, above the level of 1.2311 with the targets at 1.2650–1.2700.

Alternative scenario

The breakdown and the consolidation of the price below the level of 1.2311 will let the pair go down to the levels of 1.2220–1.2125.

Trade

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 1.2393
Take Profit 1.2650, 1.2700
Stop Loss 1.2310
Key Levels 1.2125, 1.2220, 1.2311, 1.2650, 1.2700

Alternative scenario

Recommendation SELL STOP
Entry Point 1.2300
Take Profit 1.2220, 1.2125
Stop Loss 1.2360
Key Levels 1.2125, 1.2220, 1.2311, 1.2650, 1.2700
More analytic from LiteForex:
English https://www.liteforex.com/blog/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
You can choose any language on our site
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