EUR/USD Wave analysis and forecast of 27.02 – 06.03: Downtrend persists.

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Estimated pivot point is at the level of 1.1380.

Our opinion: Sell the pair from correction below a level of 1.1380 with a target at 1.0950 – 1.09. Buy the pair with a target at 1.1760 in case the level 1.1380 is broken.

Alternative scenario: Breakdown of the level 1.1380 and consolidation above will allow the pair to continue the rise up to levels 1.1760 – 1.18.

Analysis: The development of a long-term bearish impetus is still going on. Within its borders, the fifth final wave is nearing completion. Apparently, the third wave of junior level (iii) of v is forming. If this assumption is correct, the pair will continue declining to a level of 1.0950. The level 1.1534. is critical in this scenario.

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