EUR/USD Wave analysis and forecast of 21.11 – 28.11: The pair is - TopicsExpress

EUR/USD Wave analysis and forecast of 21.11 – 28.11: The pair is likely to grow. Estimated pivot point is at the level of 1.2356. Our opinion: Buy the pair from correction above the level of 1.2356 with the target of 1.28 – 1.2850. Alternative scenario: Breakout and consolidation of the price below the level of 1.2356 will enable the pair to continue the decline to the levels of 1.2300 – 1.2250. Analysis: The formation of the “bullish” correction in the wave 2 of the senior level continues. At the moment it seems that the wedge as the first one-two wave (i) of a of 2 has been formed and the local correction is being developed as the second wave (ii) of the junior level. If this assumption is correct and the price does not break down the critical level of 1.2356, after the completion of correction it makes sense to expect continuation of the rise in the pair up to the level of 1.28 – 1.2850.

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