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EUR/USD and GBP/USD: wave analysis

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EUR/USD: wave analysis

A fall is expected. Assumingly, a development of a correction within the second wave 2 of the senior level continues, within which a double zigzag is forming. Locally, wave y of 2 in the shape of a zigzag seems to be developing, and a fall to the level of 1.0940 is excepted within its wave (c). A critical for this scenario is the level of 1.1290, the breakout of which would allow the pair to grow to 1.1500, 1.1700. Trading tips Sell the pair below the level of 1.1290 with targets at 1.0950, 1.0940. Alternative scenario The breakout and consolidation above the level of 1.1290 would allow the pair to grow to 1.1500, 1.1700.

eur eur1

 

GBP/USD: wave analysis

A growth is expected. Assumingly, a correction of the senior level within wave B of (2) in the shape of an irregular flat with a diagonal in wave c of B has finished forming. Locally, a starting wave i of (i) of the junior level seemed to have formed. If the assumption is correct, the pair will grow within wave C of (2). Trading tips Buy the pair above the level of 1.5100 with targets at 1.5600, 1.5800. Alternative scenario The breakdown and consolidation below the level of 1.5100 would allow the pair to fall to 1.4900, 1.4800.

gbp gbp1

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