EUR/USD: Wave analysis and forecast of 14.02 – 21.02: The pair is likely to decline. It is also possible that medium-term uptrend will continue. Estimated pivot point is at the level of 1.3740.
Our opinion: Sell the pair below the level of 1.3740 with the target of 1.33 – 1.30. Buy the pair in case of breakdown at the level of 1.3740 with the target of 1.3890.
Alternative scenario: Breakout of the level of 1.3740 will enable the price to continue growth to the level of 1.40.
Analysis: Presumably, the formation of the upward correction in the second wave ii. of 3 , which is likely to have a shape of a truncated Zigzag is nearing completion. If this assumption is true, and the price does not break down the critical level of 1.3740, it makes sense to expect decline in the pair to the levels of 1.33 – 1.30 in the third wave. In case of breakdown of the critical level, the pair will continue to grow and the nearest targets will be the levels of 1.3765 – 1.3890.