The pair EUR/USD remains likely to grow. Estimated pivot point is at a level of 1.0866.
Main scenario: long positions should be considered from corrections above the level of 1.0866 with a target of 1.1240 – 1.1400.
Alternative scenario: breakout and consolidation below the level of 1.0866 will allow the pair to continue declining to the levels of 1.0780 – 1.0700
Analysis: Supposedly, a descending correction of senior level finished developing in the form of the second wave 2 on the daily time frame, with wave C of 2 completed within. Supposedly, the fifth wave 5 of (C) has finished developing and wave 1 of (1) of 3 started forming on the H4 time frame. Apparently, the first counter-trend wave of junior level i of 1 is forming on the H1 time frame. If this assumption is correct, the pair will continue to rise to 1.1240 – 1.1400 once local correction ii of 1 is over. The level 1.0866 is critical in this scenario.
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Price chart of EURUSD in real time mode
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