Forex4you

EUR/USD: the risk of further decline is still urgent

Wave analysis

Technical analysis

Fundamental analysis

Complex analysis

   In accordance with the yesterday forecast the bounce out of the support level happened, though judging from the market momentum and RSI pass into the oversold zone the correction can be not so sound as expected. Meanwhile, the scenario including the lasting of the descendant structure formation with the target at 1.4160 appears on the forefront.

   Trading recommendations: to sell lower than 1.4395; in case of the breakage upward over entry is possible from 1.4487, the target is 1.4160; either to the breakage level at 1.4309 with the target at 1.4160.
   Alternative scenario: the fixation higher than 1.4487 will open 1.4624 and confirm the yesterday variant.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst