EUR/USD: wave analysis
04 January 2018, 08:45
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 1.2031 |
| Take Profit | 1.2110 |
| Stop Loss | 1.1970 |
| Key Levels | 1.1911, 1.1950, 1.2000, 1.2110 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1.1990 |
| Take Profit | 1.1950, 1.1911 |
| Stop Loss | 1.2030 |
| Key Levels | 1.1911, 1.1950, 1.2000, 1.2110 |
The trend is upward.
On the 4-hour chart the fifth wave 5 is forming as a diagonal triangle within the first wave 1 of the higher level. At the moment the third wave iii of 5, within which the wave (c) of iii is forming, is developing. If the assumption is correct, the pair will grow to the level of 1.2110. The level of 1.2000 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 1.2000 with the target at 1.2110.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2000 will let the pair go down to the levels of 1.1950–1.1911.
On the 4-hour chart the fifth wave 5 is forming as a diagonal triangle within the first wave 1 of the higher level. At the moment the third wave iii of 5, within which the wave (c) of iii is forming, is developing. If the assumption is correct, the pair will grow to the level of 1.2110. The level of 1.2000 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 1.2000 with the target at 1.2110.
Alternative scenario
The breakdown and the consolidation of the price below the level of 1.2000 will let the pair go down to the levels of 1.1950–1.1911.
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