EUR/USD Wave analysis and forecast of 19.09 – 26.09

EUR/USD Wave analysis and forecast of 19.09 – 26.09: European currency is under pressure. Downtrend continues.

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Estimated pivot point is at the level of 1.3000.

Our opinion: Sell the pair from correction below the level of 1.3000 with the target of 1.2750 – 1.27.

Alternative scenario: Breakout and consolidation above of the level of 1.30 will enable the price to continue growth to the levels of 1.31 – 1.3150, as part of the senior level correction.

Analysis: Presumably, the formation of the “bearish” trend in the third wave iii is still ongoing. Locally, it is likely that the fourth wave of the junior level (iv) of iii has completed and the fifth wave (v) of iii started to develop. If this assumption is correct and the price does not break down the critical level of 1.30, it makes sense to expect that the pair will continue to decline to the level of 1.2750.

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EURUSD-H4

EURUSD-D1

 

 

 

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