EUR/USD: Wave analysis and forecast of 25.04 – 02.05: The pair is likely to grow.
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Estimated pivot point is at the level of 1.3790.
Our opinion: Buy the pair above the level of 1.3790 with the target of 1.3950 – 1.40.
Alternative scenario: Breakout of the level of 1.3790 will enable the price to continue decline to 1.3720.
Analysis: Presumably, the zigzag (a)(b)(c) is being formed in the final fifth wave of a diagonal triangle, which is nearing completion of the long-term upward correction. Locally, formation of correction in wave (b) has completed, and formation of ascending impetus in wave (с) has begun. In case of breakdown of the level of 1.3790, formation of wave (b) will continue up to the bottom boundary of the forming wedge at the level of 1.3720. Critical level for this scenario is 1.3670.
