EUR/USD: Wave analysis and forecast of 04.07 – 11.07: Completion of correction. The pair is likely to decline. Estimated pivot point is at the level of 1.3700.

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Our opinion: Sell the pair from correction below the level of 1.3700 with the target of1.34 – 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 it is possible that in-lead small impetus is being formed; if this assumption is true, the pair will continue to decline in the third wave. Critical level for this scenario is the level of 1.3700. In case of breakdown of this level the pair will continue to grow and the correction will deepen to the level of 1.3750 – 1.38 in the second.

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EUR/USD: Wave analysis and forecast of 13.06 – 20.06: Euro is under pressure, downtrend prevails. 

Estimated pivot point is at the level of 1.3680.

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Our opinion: Sell the pair from correction below the level of 1.3680 with the target of 1.34 – 1.33.

Alternative scenario: Breakout of the level of 1.3680 will allow the price to continue growth to the levels of 1.38 – 1.3850.

Analysis: Presumably, the formation of the local correction in the second wave, which took shape of the irregular plain, has completed. Locally, the in-lead wave i of (iii) has been formed, as well as the small correction in the second wave ii of (iii). If this assumption is correct, following the completion of the correction the pair will continue to decline in the third wave iii of (iii).

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EUR/USD: Wave analysis and forecast of 16.05 – 23.05: The pair is likely to decline. Estimated pivot point is at the level of 1.3993.

Our opinion: In the short-term: buy the pair above the level of 1.3645 with the target of 1.3820. In the medium-term: wait for the completion of the correction and sell below the level of 1.3993 with the target of 1.35 – 1.3477.

Alternative scenario: Breakout of the level of 1.3993 will enable the price to continue growth to the level of 1.41.

Analysis: Presumably, the formation of the in-lead momentum as the first wave has completed. Locally, the pair may experience upward correction in the second wave to the levels of 50% – 1.3820. If this assumption is correct, following the completion of the local correction, the pair will continue to decline to the levels of 1.35 – 1.3470. Critical level for this scenario is 1.3993.

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.

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EUR/USD: Wave analysis and forecast of 11.04 – 18.04: The rise in the pair will resume. Estimated pivot point is at the level of 1.3670.

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Our opinion: Buy the pair from correction above the level of 1.3824 with the target of 1.40.

Alternative scenario: Breakout of the level of 1.3824 will enable the price to continue decline to the level of 1.3750.

Analysis: The pair has broken down critical level of the bearish scenario and continues to grow. At the moment bullish impetus is being formed in the wave (a) in the fifth wave of a diagonal triangle of the senior wave level. If this assumption is true and the price does not break down critical level of the local impetus, we can expect that the pair will continue to rise to the level of. As an alternative scenario it is possible that after breakdown of the level of 1.3824, deep correction will go to 1.3750. Critical level for the bullish scenario is 1.3670.

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