EURUSD Wave analysis and forecast for 31.03 – 07.04

Wave analysis and forecast for 31.03 – 07.04: The as part is likely to rise within correction.

Estimated pivot point is at the level of 1.0667.

Analysis: Presumably, the formation of the upward correction as the fourth wave of the senior level has completed. Locally, it seems that the fifth wave is being developed, within which one-two impetus (i) of the junior level has been formed. If this assumption is correct, the pair may continue to rise to 1.0790 as part of the correction. Critical level for this scenario is 1.0667.

Alternative scenario: Breakout and consolidation of the price below the level of 1.0667 may trigger further decline in the pair to 1.0600 – 1.0500.