As we already speak earlier, on EUR/USD graphic remains quite compound wave structure, supposedly in the limits of 5th wave of upward trend. It’s probable that we observe finishing stage of current weakening of dollar. After a price’ moves down, a variation that permits work-out of above targets remains (see graphic). And 5th august maxim can be overcome.
It is highly risky to enter into market in both sides. Keep an eye on MACD divergence, which can speak of price’ shortly turn-round upon middle-term perspective.
Analysis prepared by:
Maxim Dmitrievsky
Forex4you analyst