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    EUR/USD: Wave analysis and forecast for 12.02 – 19.02 on 12.02.2016

    EUR/USD: Wave analysis and forecast for 12.02 – 19.02: Uptrend continues.

    Estimated pivot point is at the level of 1.0970.

    Our opinion: Buy the pair from correction above the level of 1.0970 with the target of 1.15 – 1.16.

    Alternative scenario: Breakout and consolidation of the price below the level of 1.0970 will allow the pair to continue decline to 1.0806.

    Анализ: Presumably, the development of the third wave of the senior level continues. Locally, it seems that the impetus in the third wave (iii) of iii of the junior level has completed. If this assumption is correct, after the completion f the correction the pair will continue to rise to 1.1500 – 1.16. Critical level for this scenario is 1.0970. Breakdown of this level will trigger decline in the pair to 1.08 or further down.


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