Sonntag, 1. Dezember 2013

EUR/USD: Wave analysis and forecast of 29.11 – 06.12: Ascending correction continues.Estimated pivot point is at the level of 1.3832.Our opinion: Wait for the completion of correction and reversal and then sell the pair below the level of 1.3832 with the target of 1.32 – 1.31.Alternative scenario: Breakout of the level of 1.3832 will enable the price to continue the rise up to the level of 1.40.Analysis: It is possible at the moment that ascending correction is nearing completion as the second wave, which takes the shape of a Zigzag. Locally, the wave С. Of 2 is being formed, which can reach the levels of 1.3660 – 1.3710. If this assumption is confirmed, following completion of the ascending correction, the pair will continue to decline within the third wave.

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