Analysis of wave counting:
Having failed to resume the downward movement, at the beginning of yesterday's European session, the pair EUR / USD continued to increase quotations and returned to the maximum of the past week before the end of the day. The current wave situation allows us to assume that the currency pair remained within the limits of the second wave considerably complicated its wave structure, as part of the future wave (C) of the main downward trend. At the same time, the currency pair has acquired additional arguments for further price growth, at least to the level of the 15th figure, in connection with which the wave с, с, с, Е, (В), will take an even more complex and extended in time form.
Objectives for a downward wave option:
1.1291 - 100.0% by Fibonacci
1.1184 - 76.4% by Fibonacci
Objectives for an upward wave option:
1.1570 - 161.8% by Fibonacci
General conclusions and trading recommendations:
The currency pair supposedly completed the wave (B). It is now possible to resume the lowering of quotations within the first waves of the future wave (C) with targets located near the calculated marks of 1.1291 and 1.1184, which equates to 100.0% and 76.4% Fibonacci. Wave E and (B) can further complicate its internal wave structure with targets near 1.11570 (161.8% Fibonacci) and above.
