EUR/USD: wave analysis

The pair will grow within the correction.

The fifth wave 5 of the highest level is forming. The first wave i of 5 as a zigzag has formed and the formation of the diagonal triangle within the fifth wave is possible. Locally the upward correction ii of 5 is forming. If the assumption is correct, the pair will grow to the level of 1.0735 within the correction. The level of 1.0565 is critical for this scenario.

Trading scenario

Buy the pair from the correction above the level of 1.0565 with the target at 1.0696-1.0735.

Alternative scenario

The breakout and the consolidation of the price below the level of 1.0565 will let the pair to lower to the level of 1.0450.

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