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EUR/USD: general review 14 June 2019, 11:05

EUR/USD: general review 14 June 2019, 11:05 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 1.1265 ...

Apr 17, 2019

JP Morgan Chase Co.: wave analysis 17 April 2019, 09:49


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 111.08
Take Profit 119.50
Stop Loss 108.25, 98.02
Key Levels 85.90, 98.02, 119.50
Alternative scenario
Recommendation SELL STOP
Entry Point 97.95
Take Profit 85.90
Stop Loss 102.05
Key Levels 85.90, 98.02, 119.50
The price may grow.
On the 4-hour chart, the downward correction formed as the fourth wave of the higher level 4 of (3), and the development of the fifth wave 5 of (3) began. Now the local wave has ended as the wave ii of 5, and the third wave of the lower level iii of 5 is developing. If the assumption is correct, the price will grow to the level of 119.50. In this scenario, critical stop loss level is 98.02.


Main scenario
Long positions will become relevant during the correction, above the level of 98.02 with the target at 119.50. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 98.02 will let the price go down to the level of 85.90.

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