Analysis of wave counting:
Probably, before the upcoming Thursday's meeting of the ECB Board of Governors, the pair EUR / USD fell into the range, having spent the past day near the level of the 19th figure. The current wave situation allows us to assume that the currency pair continued to make attempts to transition to the stage of formation of the first generating waves in the composition of the 5th wave, 5th, c, c, E, (B). At the same time, in the case of resumption of price reduction to the lower forming line of the ascending channel, the wave structure of the entire 5th wave, c, c, E, (B) can take a much more complex form.
The objectives for the construction of the downward wave:
1.1860 - 127.2% of Fibonacci
1.1771 - 100.0% of Fibonacci
Objectives for the construction of an upward wave:
1.2098 - 200.0% of Fibonacci
1.2200
General conclusions and trading recommendations:
The currency pair resumed the construction of the wave (B). It is now possible to resume the increase in quotations within wave 5, 5, c, c, E, (B) with targets located near the estimated mark of 1.2098, which corresponds to 200.0% of Fibonacci and above about 22 figures. The assumed wave 4, 5, c, c, E, (B) supposedly completed its construction near the mark of 1.1860, which corresponds to 127.2% of Fibonacci.
