EUR/USD: Wave Analysis For 18/01/2019 – 25/01/2019
LiteForex | Jan 18, 2019 10:18AM ET
The pair EUR/USD is likely to grow. Estimated pivot point is at a level of 1.1367.
Main scenario: long positions will be relevant from corrections above the level of 1.1367 with a target of 1.1466 – 1.1490.
Alternative scenario: Breakout and consolidation below the level of 1.1367 will allow the pair to continue declining to the levels of 1.1258 – 1.1210.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues developing on the daily time frame with the wave C of (2) developing within. On the H4 time frame, presumably an ascending correction has finished developing in the form of wave ii of C. On the H1 time frame, apparently, the third wave iii of С of (2) started forming, with the wave (i) of iii formed inside. If the presumption is correct, the pair will logically rise to the levels 1.1466 – 1.1490 under correction in the short term. The level 1.1367 is critical in this scenario.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.