EUR/USD: Wave analysis and forecast of 27.06 – 04.07: The pair is undergoing correction. The pair is likely to decline in the medium-term.

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Estimated pivot point is at the level of 1.3680.

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 the growth up to the levels of 1.3750 – 1.38.

Analysis: Presumably, the formation of the local correction in the second wave, which took shape of the irregular plain, is nearing completion. Locally it is possible that the wave c of (ii) has been formed, and if this assumption is correct, the pair will continue to decline in the third wave. Critical level for this scenario is 1.3680. If this level is broken down the pair will continue to grow, and the correction will deepen to the level of 1.3750 – 1.38 in the second wave.

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EUR/USD: Wave analysis and forecast of 20.06 – 27.06: Local correction is nearing completion. The decline in the pair is likely to continue.

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Estimated pivot point is at the level of 1.3680.

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 the growth up to the levels of 1.3750 – 1.38.

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 and minor correction in the second wave ii of (iii) is nearing completion. If this assumption is correct, following the completion of the current correction the pair will continue to decline in the third wave iii of (iii). Critical level for this scenario is 1.3680. In case of breakdown the pair will continue to grow to the levels of 1.3750 – 1.38.

Alternatively:

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Estimated pivot point is at the level of 1.3993.

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Our opinion: In the short-term: buy the pair above the level of 1.3630 with the target of 1.3770 – 1.38. In the medium-term: sell the pair from correction 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 level of 1.3770, which may take a shape of irregular plain. 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.

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EUR/USD: Wave analysis and forecast of 09.05 – 16.05: The pair is likely to decline.

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Estimated pivot point is at the level of 1.3995.
Our opinion: Sell the pair from correction below the level of 1.3995 with the target of 1.37 – 1.36.
Alternative scenario: Breakout of the level of 1.3995 will enable the price to continue growth to the level of 1.41.
Analysis: Presumably, the formation of the zigzag (a)(b)(c) has been completed in the final fifth wave of the diagonal triangle, which is nearing completion of the long-term upward correction in the weekly timeframe. Locally, it is possible that the first in-lead wave of the long-term downtrend is being formed. Critical level for this scenario is 1.3995.

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EUR/USD: Wave analysis and forecast of 02.05 – 09.05: The pair will continue to grow.

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Estimated pivot point is at the level of 1.3770.
Our opinion: Buy the pair from correction above the level of 1.3770 with the target of 1.3950 – 1.40.
Alternative scenario: Breakout of the level of 1.3770 will enable the price to continue decline to the level of 1.3720.
Analysis: Presumably, zigzag (a)(b)(c) is being formed in the fifth wave of a diagonal triangle, which is completing long-term correction. Locally, formation of correction in wave (b) has completed, and downward impetus in wave (c) is being formed. Critical level for this scenario is 1.3670

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