EUR/USD

EUR USD Forecast

EUR USD Forecast, The pair may grow., On the 4-hour chart, the downward correction of the higher level develops as a wave (2), within which the wave C of (2) forms.Now the first wave of the lower level i of C has formed, and the upward correction is developing as a second wave ii of C, within which the wave (b) of ii is ending. If the assumption is correct, after the end of the correction the pair will grow to the levels of 1.1511–1.1586. In this scenario, critical stop loss level is 1.1212.

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Main scenario

Long positions will become relevant during the correction, above the level of 1.1212 with the targets at 1.1511–1.1586. Implementation period: 5–7 days.

Alternative scenario

The breakdown and the consolidation of the price below the level of 1.1212 will let the pair go down to the level of 1.1150.

 

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 1.1297
Take Profit 1.1511, 1.1586
Stop Loss 1.1212
Key Levels 1.1150, 1.1212, 1.1511, 1.1586

 

Alternative scenario

 

Recommendation SELL STOP
Entry Point 1.1205
Take Profit 1.1150
Stop Loss 1.1260
Key Levels 1.1150, 1.1212, 1.1511, 1.1586

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