Analysis of wave counting:
Having stood practically the whole past day in the range, only by the end of trading the pair EUR / USD managed to grow slightly, reaching the level of 1.1790. Thus, the current wave situation allows us to assume that the currency pair still remained in the formation stage of the increasingly complex form of the 5th wave, c, a, (C). If this is so, wave b, (C), still does not further complicate its wave structure, then the currency pair can resume the decline of quotations in the direction of the level of the 16th figure.
The objectives for building the downward wave:
1.1619 - 161.8% of Fibonacci
1.1600
The objectives for building the upward wave:
1.1830 - 38.2% of Fibonacci
1.1880 - 50.0% of Fibonacci
General conclusions and trading recommendations:
The construction of a new downward trend segment is continuing. It is now possible to continue to lower quotations within the wave c, a, (C) with targets located near the calculated mark of 1.1619, which corresponds to 161.8% Fibonacci and lower. Wave counting is not entirely unambiguous and may require adjustments.
