EUR/USD: wave analysis on 10.09.2015

September 10, 2015

A growth is expected.

Assumingly, a formation of a zigzag within the second wave ii of 3 has finished. Locally, a formation of the first wave of the junior level (i) seems to have started. If the assumption is correct, the pair continues growing towards 1.1500-1.1700. A critical for this scenario is the level of 1.1080 after the breakdown of which a downward correction towards 1.0900-1.0850 would start.

Trading tips

Buy the pair above the level of 1.1080 with targets at 1.1500-1.1700.

Alternative scenario

The breakdown and consolidation below the level of 1.1080 would allow the pair to decline towards 1.0900-1.0850.

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