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EUR/USD and GBP/USD: wave analysis

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EUR/USD: wave analysis A growth is expected. Assumingly, the third wave of the senior level 3 is forming. Locally, the first wave i of 3 seems to be forming, within which the fifth wave (v) of i has started. If the assumption is correct, the pair continues growing to 1.1300-1.1400. A critical for this scenario is the level of 1.1013, the breakdown of which would allow the pair to continue falling to 1.0800-1.0700. Trading tips Buy the pair from corrections, above 1.1013 with the target at 1.1300-1.1400. Alternative scenario The breakdown and consolidation below the level of 1.1013 would allow the pair to continue falling to 1.0800-1.0700.

eur1 eur2

GBP/USD: wave analysis The pair still may grow. Assumingly, a large correction in the form of a triangle within wave B has formed, and wave C started developing. Locally, the first wave i of C seems to be forming, within which, supposedly, the third wave of the junior level (iii) is developing. If the assumption is correct and the price does not break through the critical level of 1.5555, the pair continues growing to 1.5800-1.5900. Trading tips Buy the pair from corrections, above 1.5555 with the target at 1.5800-1.5900. Alternative scenario The breakdown and consolidation below the level of 1.5555 would allow the pair to continue falling to 1.5400-1.5300.  

gbp1 gbp2

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