EUR/USD: Wave analysis and forecast for 26/10/2018 – 02/11/2018
The pair EUR/USD is still likely to fall. Estimated pivot point is at a level of 1.1433.
Main scenario: short positions will be relevant from corrections below the level of 1.1433 with a target of 1.1330 – 1.1296.
Alternative scenario: breakout and consolidation above the level of 1.1433 will allow the pair to continue rising to a level of 1.1623.
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 A of (2) formed within. An upward correction B of (2), supposedly, is developing on the H4 time frame, with the wave b of B forming inside. Apparently,a descending impetus is developing in the form of the wave (c) of b on the H1 frame, with the wave iii of (c) formed inside. If the presumption is correct, the pair may continue to drop to the levels 1.1330 – 1.1296 after the correction iv of (c) has finished. The level 1.1433 is critical in this scenario.
Do You Want To Make Thousands Of Dollars Extra Cash Every Month
From Forex Trading In Pakistan?
Subscribe To Our Mailing List And Get Free Forex Training Videos, Free Forex Trading Strategies, Free Forex Indicators, Robots And Free Forex Analysis From ForexGuru.Pk Team In Your Email
We Respect Your Privacy And Protect It Seriously