EUR/USD Wave analysis and forecast of 13.03 – 20.03: The pair continues to decline.

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Estimated pivot point is at a level of 1.0640.

Our opinion: In the short term: buy the pair with the target at 1.0730 – 1.0870 once the level of 1.0640 is broken down. In the medium term: keep short positions with a target at 1.04.

Alternative scenario: Breakdown of the level 1.0640 and consolidation above will allow the pair to continue the rise up to levels 1.0730 – 1.0870 as part of local correction.

Analysis: The fifth final wave continues to develop within bearish trend. Supposedly, the third wave of junior level (iii) has finished and local correction in a form of fourth wave (iv) starts to develop. If the presumption is correct, after correction, the pair will continue to decline to the level at 1.04.

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