Correction is completed, the pair EUR/USD is likely to continue growing. Estimated pivot point is at a level of 1.1297.
Main scenario: long positions will be relevant from corrections above the level of 1.1297 with a target of 1.1460 – 1.1570.
Alternative scenario: Breakout and consolidation below the level 1.1297 will allow the pair to continue declining to the levels of 1.1180 – 1.1115.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave 2 finished developing on the D1 frame as a zigzag whose diagonal is located inside the wave (С) of 2. Supposedly, the third wave started developing on the H4 time frame with the wave of junior level i of 1 of (1) of 3 forming inside. On the H1 time frame, apparently, the third wave of junior level iii of 1 finished forming and a local correction iv of 1 is developing. If the presumption is correct, after correction, the pair will continue to rise to the levels 1.1460 – 1.1570. The level 1.1297 is critical in this scenario.
