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USD/JPY: upward momentum maintains 20 September 2019, 14:15

USD/JPY: upward momentum maintains 20 September 2019, 14:15 Scenario Timeframe Weekly Recommendation BUY Entry Point 1...

Sep 12, 2019

EUR/USD: wave analysis 12 September 2019, 09:36


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 1.1012
Take Profit 1.1163, 1.1249
Stop Loss 1.0922
Key Levels 1.0800, 1.0850, 1.0922, 1.1163, 1.1249
Alternative scenario
Recommendation SELL STOP
Entry Point 1.0915
Take Profit 1.0850, 1.0800
Stop Loss 1.0945
Key Levels 1.0800, 1.0850, 1.0922, 1.1163, 1.1249
The pair may grow.
On the 4-hour chart, the development of a downward correction of the higher level as the wave 2 ends, within which the fifth wave 5 of (C) of 2 formed as a zigzag. Now, the development of the third wave of the higher level 3 is beginning, within which the entry momentum of the lower level (i) of i of 1 has formed, and the local correction (ii) of i is ending. If the assumption is correct, the pair will grow to the levels of 1.1163–1.1249. In this scenario, critical stop loss level is 1.0922.


Main scenario
Long positions will become relevant during the correction, above the level of 1.0922 with the targets at 1.1163–1.1249. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1.0922 will let the pair go down to the levels of 1.0850–1.0800.

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