Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	1.0883
Take Profit	1.1480, 1.1680
Stop Loss	1.0790
Key Levels	1.0510, 1.0634, 1.0790, 1.1480, 1.1680

Alternative scenario
Recommendation	SELL STOP
Entry Point	1.0785
Take Profit	1.0634, 1.0510
Stop Loss	1.0845
Key Levels	1.0510, 1.0634, 1.0790, 1.1480, 1.1680

The price is in a correction and may grow.

On the daily chart, the upward wave B develops, within which the entry first wave 1 of (А) of B formed, a correction developed as the second wave 2 of (А) of B, and the third wave 3 of (А) develops. Now, the first wave of the lower level i of 3 has ended, and a local correction is ending as the second wave ii of 3, within which the wave (c) of ii is forming. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1480–1.1680. In this scenario, critical stop loss level is 1.0790.

Main scenario

Long positions will become relevant above the level of 1.0790 with the targets at 1.1480–1.1680. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 1.0790 will let the asset go down to the area of 1.0634–1.0510.