EUR / USD

<p>Analysis: within the framework of the daily timeframe, the formation of the downward fifth wave of the senior level (5) of C, presumably, continues to form, in the composition of which the first wave 1 of (5) was formed. On the 4-hour timeframe, the formation of local correction as wave 2 of (5) has completed and the development of wave 3 of (5) has begun. As part of the hourly timeframe, most likely, the development of an upward correction as wave ii of 3 has completed and the formation of wave iii of 3 has begun. If the assumption is correct, the pair will continue to decline to levels 1.0630 – 1.0500. Critical to this scenario is the level of 1.0996, in case of breakdown of which the pair will continue to rise to the levels of 1.1170 – 1.1241. </p>
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<p> The main scenario: “short positions” are relevant from corrections below the level of 1.0996 with the target of 1.0630 – 1.0500. </p>