EUR/USD: Wave Analysis And Forecast For March 22- 29, 2019

The pair EUR/USD is still likely to fall. Estimated pivot point is at a level of 1.1449.

Main scenario: short positions will be relevant from corrections below the level of 1.1449 with a target of 1.1120 – 1.1000.

Alternative scenario:breakout and consolidation above the level of 1.1449 will allow the pair to continue the rise up to the levels of 1.1572 – 1.1812.

Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues developing on the daily time frame with the wave C of (2) developing within. Presumably the third wave iii of C is developing on the H4 time frame, with the wave of junior level (i) of iii formed inside. Apparently, an upward correction (ii) of iii is completed on the H1 time frame. If the presumption is correct, the pair will resume falling to the levels of 1.1120 – 1.1000. The level 1.1449 is critical in this scenario.

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