EUR/USD: Wave analysis and forecast of 10.07 – 18.07: The pair is likely to decline.
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Estimated pivot point is at the level of 1.3700.
Our opinion: Sell the pair from correction below the level of 1.3700 with the target of 1.34 – 1.33.
Alternative scenario: Breakout of the level of 1.3700 will allow the price to continue the growth up to the levels of 1.3750 – 1.38.
Analysis: Presumably, the formation of the local correction in the second wave (ii), which took shape of the irregular plane, has completed. Locally, the small, in-lead impetus has been formed, while minor “bullish” correction is nearing completion. Critical level for this scenario is 1.3700. If this level is broken down, the pair will continue to rise, while the correction in the second wave of the senior level will reach the marks of 1.3750 – 1.38.
