EURUSD Wave analysis and forecast for 05.05 – 12.05

EURUSD Wave analysis and forecast for 05.05 – 12.05

Wave analysis and forecast for 05.05 – 12.05: Uptrend continues.

Estimated pivot point is at the level of 1.0870.

Analysis: Presumably, the formation of the uptrend continues on the four-hour timeframe, within which the third wave iii of 3 of the senior level is being formed. At the moment, it seems that the third wave of the junior level (iii), is being developed, within which one-two impetus i of (iii) has formed. If this assumption is correct, after the completion of the local correction ii of (iii), the pair may continue to rise to the level of 1.1165, or higher up. Critical level for this scenario is 1.0760 – 1.0715. After breaking down this level the price may continue to decline within deep correction.

Alternative scenario: Breakout and consolidation of the price below the level of 1.0870 may trigger further decline in the pair to 1.0760 – 1.0715.

Our opinion: Buy the pair from correction above the level of 1.0870 with the target of 1.1165.

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

Categories: Free Forex Signals

Tags: ,

Do NOT follow this link or you will be banned from the site!