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EUR/USD: general analysis 16 August 2019, 14:11

EUR/USD: general analysis 16 August 2019, 14:11 Scenario Timeframe Weekly Recommendation SELL Entry Point 1.1076 Tak...

Apr 16, 2019

USD/JPY: wave analysis 16 April 2019, 09:32


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 111.92
Take Profit 113.00, 114.00
Stop Loss 110.83
Key Levels 108.31, 109.66, 110.83, 113.00, 114.00
Alternative scenario
Recommendation SELL STOP
Entry Point 110.75
Take Profit 109.66, 108.31
Stop Loss 111.35
Key Levels 108.31, 109.66, 110.83, 113.00, 114.00
The pair may grow.
On the 4-hour chart, the first wave i formed within the third wave of the higher level 3 of (C), and a downward correction ended as the wave ii of 3. Now the formation of the wave iii of 3 has begun, within which the local correction (ii) of iii has ended, and the wave (iii) of iii is developing. If the assumption is correct, after the end of the local correction, the pair will grow to the levels of 113.00–114.00. In this scenario, critical stop loss level is 110.83.


Main scenario
Long positions will become relevant during the correction, above the level of 110.83 with the targets at 113.00–114.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 110.83 will let the pair go down to the levels of 109.66–108.31.

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