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USD/CAD: technical analysis 16 July 2019, 11:19

USD/CAD: technical analysis 16 July 2019, 11:19 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 1.303...

Jul 11, 2019

EUR/USD: wave analysis 11 July 2019, 09:34


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.1268
Take Profit 1.1328, 1.1413
Stop Loss 1.1235
Key Levels 1.1000, 1.1100, 1.1191, 1.1328, 1.1413
Alternative scenario
Recommendation SELL STOP
Entry Point 1.1185
Take Profit 1.1100, 1.1000
Stop Loss 1.1215
Key Levels 1.1000, 1.1100, 1.1191, 1.1328, 1.1413
The pair may grow.
On the 4-hour chart, the first entry wave 1 of (1) of 3 formed as a diverging diagonal triangle, and the correction 2 of (1) of 3 ended. Now, the development of the third wave 3 of (1) has begun, within which the first wave of the lower level (i) of i of 3 has formed. If the assumption is correct, the pair will grow to the levels of 1.1328–1.1413. In this scenario, critical stop loss level is 1.1191.


Main scenario
Long positions will become relevant during the correction, above the level of 1.1191 with the targets at 1.1328–1.1413. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.1191 will let the pair go down to the levels of 1.1100–1.1000.

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