EUR/USD: wave analysis on 22.07.2015

July 22, 2015

A growth is expected.

Assumingly, the "bearish" correction of the senior level within the wave 2, which currently has the form of a zigzag, has formed. Locally, as it seems, a small starting impetus has formed; and, if the assumption is correct, after the correction the pair will continue growing towards 1.1200-1.1400. A critical for this scenario is the level 1.0800, the breakdown of which would allow the pair to continue declining towards 1.0700.

Trading tips

Buy the couple from corrections, above 1.0800 with the target at 1.1200-1.1400.

Alternative Scenario

The breakdown and consolidation below 1.0800 would allow the pair to continue declining towards 1.0700.

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