EUR/USD: Elliott wave analysis and forecast for 03.07.20 – 10.07.20

The pair EUR/USD remains likely to grow. Estimated pivot point is at the level of 1.1180.

Main scenario: consider long positions from corrections above the level of 1.1180 with the target in 1.1495 – 1.1605.

Alternative scenario: breakout and consolidation below the level of 1.1180 will allow the pair to continue declining to the levels of 1.1095 – 1.1019.

Analysis: Supposedly, a descending correction of larger degree finished developing on the daily time frame in the form of wave 2 and the third wave 3 started developing. On the H4 time frame the inceptive wave 1 of (3) of a new trend…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>