Analysis of wave counting:
After testing the level of the 19th figure, the pair EUR / USD was able to start the expected decline and fell below the level of 1.1730 at the end of last week . Thus, it can be assumed that the currency pair has made another attempt to complete the process of forming not only the wave c, c, e, B, but also the entire wave c, e, B. If this is so and the wave c, e, B does not take an even more complicated form, the currency pair will continue to identify the downward movement, going to the stage of formation of the first generating waves in the future wave C.
Objectives for an upward wave option:
1.1849 - 261.8% by Fibonacci
1.2036 - 300.0% by Fibonacci
Goals for a downward wave option:
1.1547 - 200.0% by Fibonacci
1.1400 General
General conclusions and trading recommendations:
The instrument continues to build an upward wave of B. This week, the increase in quotes may continue within the expected wave c, c, e, B with targets located near the calculated marks of 1.1849 and 1.2036, which corresponds to 261.8% and 300.0% of Fibonacci. If this wave has completed its construction, then the instrument will pass to the stage of a long decline within the wave C.
