Analysis of wave counting:
As expected, after the ECB meeting, the pair EUR / USD continued to develop the upward movement and in the second half of the day was able to work out the mark of 1.2050. It can be assumed that the currency pair was in the stage of formation of the internal wave structure of the 5th wave approaching its completion, in the 5th, c, c, E, (B). If this is the case, the level of the 21st figure can still be considered as the first calculated goal for this 5th wave, in the 5th, c, c, E, (B).
The objectives for the construction of the downward wave:
1.1860 - 127.2% of Fibonacci
1.1771 - 100.0% of Fibonacci
Aims for building the upward wave:
1.2098 - 200.0% of Fibonacci
1.22200
General conclusions and trading recommendations:
The currency pair resumed the construction of the wave (B). It is now possible to continue increasing quotations within wave 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. Wave 4, 5, c, c, E, (B) supposedly completed its construction near the mark of 1.1860, which corresponds to 127.2% of Fibonacci.
