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GBP/USD: general analysis 26 February 2020, 13:50

GBP/USD: general analysis 26 February 2020, 13:50 Scenario Timeframe Intraday Recommendation BUY Entry Point 1.2940 ...

Feb 13, 2020

USD/JPY: wave analysis 13 February 2020, 08:43


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 109.79
Take Profit 111.00, 112.35
Stop Loss 109.10
Key Levels 104.48, 106.46, 108.26, 111.00, 112.35
Alternative scenario
Recommendation SELL STOP
Entry Point 108.20
Take Profit 106.46, 104.48
Stop Loss 108.80
Key Levels 104.48, 106.46, 108.26, 111.00, 112.35
The pair may grow.
On the daily chart, the first wave of the higher level (1) of С is being formed, as part of which the wave iii of 1 has begun. At the moment, the first wave of the lower level (i) of iii has formed, the development of a downward correction as wave (ii) of iii is completed and the formation of wave (iii) of iii has begun. If the assumption is right, the growth of the pair will continue to the levels of 111.00–112.35. The level of 108.26 is critical and stop loss for this scenario.


Main scenario
Long positions are relevant from the corrections above level of 108.26 with targets at 111.00–112.35. Implementation time: 7 days and more.
Alternative scenario
Breaking down the level of 108.26 and consolidation below it will allow the pair to continue reduction to 106.46–104.48.

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