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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...

Jun 12, 2019

JP Morgan Chase Co.: wave analysis 12 June 2019, 09:45


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 110.68
Take Profit 122.50, 127.80
Stop Loss 104.82
Key Levels 85.90, 97.79, 104.82, 122.50, 127.80
Alternative scenario
Recommendation SELL STOP
Entry Point 104.75
Take Profit 97.79, 85.90
Stop Loss 107.10
Key Levels 85.90, 97.79, 104.82, 122.50, 127.80
The price may grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) develops. Now, the local correction of the lower level has formed as the wave iv of 5, and the development of the wave v of 5 has begun. If the assumption is correct, the price will grow to the levels of 122.50–127.80. In this scenario, critical stop loss level is 104.82.


Main scenario
Long positions will become relevant during the correction, above the level of 104.82 with the targets at 122.50–127.80. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 104.82 will let the price go down to the levels of 97.79–85.90.

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