EUR/USD: Wave Analysis and Forecast for 25.03 – 01.04
EUR/USD: Wave analysis and forecast for 25.03 – 01.04: The pair is undergoing correction.
Estimated pivot point is at the level of 1.1340.
Our opinion: Sell the pair from correction below the level of 1.1340 with the target of 1.1050 – 1.0820. In case of breakout of the level of 1.1340 buy with the target of 1.15 – 1.16.
Alternative scenario: Breakout and consolidation of the price above the level of 1.1340 will allow the pair to continue the rise up to 1.15 – 1.16.
Analysis: Presumably, the formation of the fifth wave (v) of i of 3 has completed. Locally it is likely that the correction has begun as the wave ii of 3, within which the first wave (a) of ii os being developed. If this assumption is correct, the pair may continue to decline to 1.1050 – 1.0820. Critical level for this scenario is 1.1340. Breakdown of this level will trigger the rise in the pair to 1.15 – 1.16.
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