EUR/USD: Elliott wave analysis and forecast for 13/03/2020 – 20/03/2020

The pair EUR/USD remains likely to grow. Estimated pivot point is at a level of 1.0875.

Main scenario: short positions should be considered from corrections below the level of 1.0875 with a target of 1.0500 – 1.0327.

Alternative scenario: breakout and consolidation above the level of 1.0875 will allow the pair to continue the rise up to the levels of 1.1010 – 1.1230.

Analysis: On the weekly time frame, a descending correction of senior level continues forming and the fifth wave (5) of С is developing as part of it. On the daily time frame, the first wave 1 of…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>