EUR/USD: wave analysis on 01.06.2015

June 1, 2015

The pair is expected to grow.

Supposedly, the fourth wave of senior level iv, which is currently zigzag-shaped, is completed. Apparently, a counter-trend wedge in a form of first wave of junior level i of (i) has formed locally. If the presumption is correct, the pair may logically resume rising to the levels 1.1200–1.1465 after a local correction. The level 1.0814 is critical in this scenario.

Trading tips

Buy the pair from corrections above the level of 1.0814 with targets at 1.1200–1.1465.

Alternative scenario

Breakout and consolidation below the level of 1.0814 will enable the pair to continue dropping to the levels 1.0700–1.0600 within the fifth wave of a bearish impetus.

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