Analysis of wave counting:
Only after working off the level of the 20th figure in mid-Friday trading, the pair EUR / USD began to decline and rolled back to the price values of the opening of the Asian session at the end of the day. At the same time, it can still be assumed that the currency remained in the stage of formation of the first generating waves in the composition of the 1st wave, in (C) of the main downward trend. At the same time, the currency pair continues to maintain the potential, allowing it to resume the growth of quotations at least to the level of 1.2100 and thereby further complicate the internal wave structure of the 5th wave, c, c, E, (B).
The objectives for the construction of a downward wave:
1.1836 - 76.4% of Fibonacci
1.1776 - 100.0% of Fibonacci
Aims for building an upward wave:
1.2098 - 200.0% of Fibonacci
1.2200
General conclusions and trading recommendations:
The supposed wave (B) may have completed its construction. It is now possible to continue the reduction of quotations within the first wave in the future (C) with the first targets located near the calculated marks of 1.1836 and 1.1776, which corresponds to 76.4% and 100.0% of Fibonacci. Wave counting is not completely unambiguous.
