Euro / Dollar AS

EUR/USD: wave analysis

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The pair may fall.

On the daily chart, the first wave of the higher level 1 of (3) formed, and a downward correction develops as the second wave 2 of (3), within which the wave c of 2 forms. Now, a local correction has ended as the fourth wave of the lower level (iv) of c, and the fifth wave (v) of c is developing. If the assumption is correct, the pair will fall to the levels of 1.0760–1.0640. In this scenario, critical stop loss level is 1.1090.

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