According to Masterforex-V Academy, EURUSD has just finished forming wave A/B of H8, 1.3811-1.3624. In order to calculate the upward targets, the Fibo grid is built on top of the wave.
The price has stopped around the outer sloping channel of a bigger timeframe with the borders at 1,3294 and 1,3398.
The starting point is 1,3624. The price may use it to start wave ВН8 up to 88% =1,3790 or wave 5/а(С).
At this point, we have a momentum represented by wave А/В Н1with the borders at 1,3624 and 1,3708.
The upward targets are:
1,3721=50%;
1,3742=62%;
1,3768=76%;
1,3790=88%.
The alternative scenario implies a bearish move. However, in order for the scenario to manifest itself, the price will have to double-break the local low (1.3624) and consolidate below it.
