Wave analysis of the EUR / USD

EUR | USD continues to be in the mid-term sideways. Movement since March last year consists of a three-wave combination that suggests the formation of a triangle followed by the release of down range. At the moment come to line resistance, which is a good level to complete wave C of (B).

Thus, in the near future, I expect the beginning of a decline in the range of 1.07-1.08. In case of breaking the resistance line (1.14-1.1450) opens the way to a range of 1.20-1.23. In this scenario, the wave (B) changes to a plane. However, this alternative scenario. Signals to implement it yet.

Go to the smaller timeframes. Let us look for the point of sale. The main part of the pulse wave at [c] is completed. Divergences exist, nothing prevents a reversal down. However, there can be interesting in terms of trade situation. There is a finite probability of forming diagonal wave (v) of [c]. If we assume that the wave iv is completed (1.1194 critical level - in the case of care following script with a diagonal broken), then we will have another one in front of the maximum reduction in the area of ​​1.07-1.08. The level of 1.1430 should not be taken because in a tapered embodiment diagonal wave should be less than v wave iii.

Thus, the recommendation to sell from the range 1.1370-1.1420 with the stop order at 1.1430 and 1.08. In case the level of 1.1194 breakdown without updating the peak search terms for sale from the range 1.1250-1.1280 with a stop at the maximum of the wave C of (B).