EUR/USD: Wave Analysis and Forecast
EUR/USD: Wave analysis and forecast for 01.04 – 08.04: The pair continues to rise.
Estimated pivot point is at the level of 1.1140.
Our opinion: Buy the pair from correction above the level of 1.1140 with the target of 1.16 – 1.1750.
Alternative scenario: Breakout and consolidation of the price below the level of 1.1140 will allow the pair to continue to decline to 1.1050 – 1.0820.
Analysis: Presumably, the formation of the third wave 3 of the senior level continues, in which the extension may be formed. At the moment, it is likely that the third wave iii of 3 is being formed, in which an impetus may be formed. If this assumption is correct, in the medium-term the pair can rise up to 1.16 – 1.1750. Critical level for this scenario is 1.1140. Breakout of this level may trigger decline in the pair to 1.1050 – 1.0820.
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