Analysis of wave counting:
The tradings of the EUR / USD pair last week began with an upward movement and, having added in price more than 200 pp, completed the Friday session by closing at the mark of 1,1680. Thus, it can be assumed that the currency pair was still in the formative stage of the somewhat elongated wave within c, in e, in B. If this is the case, then despite the strong divergence of the MACD_aka, the currency pair may continue to grow at the level of 1.1775 or even 1.11850.
Objectives for an upward wave option:
1,1773 - 261.8% of Fibonacci
1,1847 - 38.2% by Fibonacci
Objectives for an upward wave option:
1.1471 - 200.0% by Fibonacci
1,1284 - 161.8% by Fibonacci
General conclusions and trading recommendations:
The trading instrument continues to build an upward wave of B. This week, the increase in quotes may continue within the assumed wave c, in c, in e, in B with targets located near the estimated marks of 1,1773 and 1,1847, which corresponds to 261.8% and 38.2% of Fibonacci. The e, B wave complicated its internal structure. After the completion of this wave, an extended decline is expected within the wave C. The divergence of the MACD_aka warns of the possible completion of the wave B, but the upward trend maintains the prospects for rising quotes.
