EUR/USD Wave analysis and forecast of 07.11 – 14.11: The pair is likely to grow.

Estimated pivot point is at the level of 1.2535.

Our opinion: Wait for the breakdown of the level of 1.2535 and buy the pair from correction with the targets of 1.30 – 1.31.

Alternative scenario: Breakout and consolidation of the price below the level of 1.2330 will enable the price to continue the decline to the levels of 1.2250 – 1.22.

Analysis: Presumably, the formation of the final fifth wave of the “bearish” momentum on the daily timeframe is nearing completion. Locally, the fifth wave is close to completion and if this assumption is correct, in the near future the price will undergo upward correct in the second wave of the senior level to the levels of 1.30 – 1.31.

EUR/USD Wave analysis and forecast of 03.10 – 10.10: The European currency is under pressure, the downtrend continues.

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Estimated pivot point is at the level of 1.27.

Our opinion: Sell the pair from correction below the level of 1.27 with the target of 1.25.

Alternative scenario: Breakout and consolidation above of the level of 1.27 will enable the price to continue growth to the levels of 1.2840 – 1.29, as part of the senior level correction.

Analysis: The formation of the downward impetus in the third wave iii is nearing completion. Locally, final fifth wave (v) of iii is being formed, within which the last descending wave v of (v) of iii is expected. If this assumption is correct, after the completion of the local correction it makes sense to expect another surge of decline to the level of 1.25. In case the price breaks the level of 1.27, the pair is likely to grow as part of the fourth wave to the levels of 1.2840 – 1.29.

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EUR/USD Wave analysis and forecast of 19.09 – 26.09: European currency is under pressure. Downtrend continues.

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Estimated pivot point is at the level of 1.3000.

Our opinion: Sell the pair from correction below the level of 1.3000 with the target of 1.2750 – 1.27.

Alternative scenario: Breakout and consolidation above of the level of 1.30 will enable the price to continue growth to the levels of 1.31 – 1.3150, as part of the senior level correction.

Analysis: Presumably, the formation of the “bearish” trend in the third wave iii is still ongoing. Locally, it is likely that the fourth wave of the junior level (iv) of iii has completed and the fifth wave (v) of iii started to develop. If this assumption is correct and the price does not break down the critical level of 1.30, it makes sense to expect that the pair will continue to decline to the level of 1.2750.

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EUR/USD Wave analysis and forecast of 29.08 – 05.09: European currency under pressure. The pair is likely to decline.

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Estimated pivot point is at the level of 1.3220.

Our opinion: Sell the pair below the level of 1.3220 with the target of 1.3040

Alternative scenario: Breakout and consolidation above the level of 1.3220 will make the price continue the rise to the levels of 1.33 – 1.3350 as part of the senior level correction.

Analysis: Supposedly, the third wave (iii) is still being formed with the impetus extension. It is likely to be completed near the level of 1.3040. If this assumption is correct and the price does not consolidate above the level of 1.3220, it’s logical to expect the pair to continue to decline to the levels of 1.31 – 1.3040.

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