EUR/USD: wave analysis on 07.08.2015

August 7, 2015

A growth possibility remains

Assumingly, the third wave of the senior level 3 is forming. Locally, the first (i) and second (ii) waves of the junior level seemed to have formed. If the assumption is correct, the pair continues growing towards 1.1200, 1.1400. A critical for this scenario is the level of 1.0840, the breakdown of which would allow the pair to fall to 1.0700.

Trading tips

Buy the pair above the level of 1.0840 with targets at 1.1200, 1.1400.

Alternative scenario

The breakdown and consolidation below the level of 1.0840 would allow the pair to fall to 1.0700, 1.0650.

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