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EUR/USD: Wave Analysis And Forecast For May 18-25, 2018

Published 05/18/2018, 08:43 AM
Updated 03/09/2019, 08:30 AM

Probability of correctional growth for EUR/USD. Estimated pivot point is at a level of 1.1760.

Main scenario: long positions will be relevant above the level of 1.1760 with a target of 1.1930 – 1.2030.

Alternative scenario:Breakout and consolidation below the level of 1.1760 will allow the pair to continue declining to the levels of 1.1700 – 1.1550.

Analysis: Supposedly, the wave A of (2) of senior level continues forming within the daily time frame. Apparently, the third wave of junior level iii of А is formed. If this assumption is correct, we may expect that the pair will grow as part of the wave iv of A to the levels 1.1930 – 1.2030 under correction. The level 1.1760 is critical in this scenario.


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