EUR/USD: Wave Analysis And Forecast For June 21-28, 2019

Correction is completed, the pair EUR/USD is likely to continue growing. Estimated pivot point is at a level of 1.1180.Main scenario: long positions will be relevant from corrections above the level of 1.1180 with a target of 1.1447 – 1.1570.Alternative scenario: Breakout and consolidation below the level of 1.1180 will allow the pair to continue declining to the levels of 1.1106 – 1.1020.Analysis: Supposedly, a descending correction of senior level in the form of the second wave 2 finished developing on the daily frame in the form of a zigzag whose diagonal is located inside the wave (С) of 2. Supposedly, the third wave started developing on the H4 time frame with the first counter-trend wave of junior level i of 1 of (1) of 3 formed inside. On the H1 time frame, apparently a local correction finished developing as the wave ii of 1 and there’s a wave iii of 1 starting to form. If the presumption is correct, the pair will continue to rise to the levels 1.1447 – 1.1570. The level 1.1180 is critical in this scenario.

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