EUR/USD: wave analysis
The pair may fall.
On the daily chart, the first wave of the higher level 1 of (3) formed, and a downward correction develops as the second wave 2 of (3), within which the wave c of 2 forms. Now, a local correction has ended as the fourth wave of the lower level (iv) of c, and the fifth wave (v) of c is developing. If the assumption is correct, the pair will fall to the levels of 1.0760–1.0640. In this scenario, critical stop loss level is 1.1090.
On the daily chart, the first wave of the higher level 1 of (3) formed, and a downward correction develops as the second wave 2 of (3), within which the wave c of 2 forms. Now, a local correction has ended as the fourth wave of the lower level (iv) of c, and the fifth wave (v) of c is developing. If the assumption is correct, the pair will fall to the levels of 1.0760–1.0640. In this scenario, critical stop loss level is 1.1090.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.