Analysis of wave counting:
In general, it is expected that during the last week's trading, the EUR / USD pair began with a downward movement, losing about 220 percentage points and has reached the mark of 1.1715. It can be assumed that the currency pair confirms the transition to the stage of formation of the first generating waves in the composition of the future wave C, the main downward trend. At the same time, despite such a significant price reduction, the currency pair retains the potential to resume the growth of quotations at least to the level of the 21st figure and further complicate the internal wave structure of the 5th wave, c, e, B.
Targets for an upward wave option:
1.2036 - 300.0% of Fibonacci
1.2100
Goals for the downward wave option:
1.1732 - 23.6% of Fibonacci
1.1510 - 38.2% of Fibonacci
General conclusions and trading recommendations:
The tool supposedly completed the construction of the rising wave B, which took a rather complicated form. This week, it is possible to reduce quotes within wave a, C with targets located near the calculated marks of 1.1732 and 1.1510, which corresponds to 23.6% and 38.2% of Fibonacci. Wave B can further complicate its internal wave structure, raising quotes, in this case, can resume with targets above 21 figures.
