EUR/USD Wave analysis and forecast for 30.12 – 06.01: The pair is likely to rise as part of correction.
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Estimated pivot point is at the level of 1.0373.
Our opinion: Buy the pair from correction above the level of 1.0373 with the target of 1.0734 – 1.0856.
Alternative scenario: Breakdown and consolidation of the price below the level of 1.0373 may trigger further decline in the pair to 1.03 – 1.02.
Analysis: Presumably, the formation of the downward impetus has completed in the third wave of the senior level. Locally, it is likely that the upward correction as the fourth wave 4 is being developed within which the wave a of 4 is being developed. If this assumption is correct, the pair will continue to rise up to 1.0734 – 1.0856. Critical level for this scenario is 1.0373.
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