EUR/USD: A correction is ending. A growth is expected

18 February, 2016

Assumingly, the third wave 3 of the senior level continues developing. Locally, a correction in the fourth wave (iv) of the junior level seems to be finishing. If the assumption is correct, in the nearest future the pair is expected to reverse and grow towards 1.1500, 1.1600. Critical for this scenario is the level of 1.0970, a breakdown of which would lead to a fall towards 1.0800 and maybe below.

Trading tips

Buy the pair above the level of 1.0970 with targets at 1.1500, 1.1600.

Alternative scenario

The breakdown and consolidation below the level of 1.0970 would allow the pair to fall to 1.0940, 1.0800.


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