Edward Culchenko
According to the trading experts of Masterforex-V Academy, EURUSD, which is a major currency pair, has just finished forming a bearish wave. The wave is represented by A/B of level h8. The move is between 1,3645 and 1,3487.
The correction grid for the wave still holds true for those who trace corrections. The momentum grid can be built on top of wave A of level h3-4, which is a part of the recovery against the completed bearish move. The range is 1,3487 - 1,3581.
The bullish scenario implies a break above 1,3581, which will confirm the completion of a bullish FZR (fractal-zigzag reversal) of level h4.
· If this is the case, the upward targets will include:
1,3603=pivot2
1,3608=76%
1,3626=88%
1,3487
The bearish scenario implies a break below the bottom of the recovery along with a break below 1,3522 and the bottom of the sloping channel. This will indicate a bearish FZR. The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of EURUSD:
Edward Culchenko
