Analysis of wave counting:
Having failed to gain a foothold under the level of the 17th figure, after the publication of the minutes of the last meeting of the FOMC yesterday, the pair EUR / USD began a fairly dynamic upward movement, bouncing to the level of 1.1780 at the end of the day. Thus, it can be assumed that the currency pair remained in the stage of formation of the 3rd wave in (C), thus considerably complicating its internal 2nd wave. If this is the case, then practically from the last day's high (or slightly higher), the currency pair will resume the decline of quotations in the direction of the first settlement targets for this 3rd wave in (C), located up to the level of 1.1500.
The objectives for the construction of the downward wave:
1.1625 - 100.0% by Fibonacci
1.1585 - 127.2% by Fibonacci
Aims for building the upward wave:
1.1898 - 161.8% by Fibonacci
1.2000
General conclusions and trading recommendations:
The currency pair supposedly completed the wave (B) near the mark of 1.1898. It is now possible to continue the decline in quotations within the first wave as part of the future (C) with targets located near the marks of 1,1625 and 1,1585, which corresponds to 100.0% and 127.2% of Fibonacci. The correction wave 2, most likely, has already completed its construction. The correction wave 2, at 3, is also nearing its completion.
