Analysis of wave counting:
The EUR / USD pair spot trading began with the continuation of the downward movement and, having lost in the price, more than 70 pp., In the second half of the day reached the level of 1.1575. At the same time, it can be assumed that the currency has completed the formation of a slightly elongated form, the first wave, in a, in, in the future, in,. If this is the case, then from the last day of the week, the currency pair is likely to indicate the beginning of the second wave, in a, in, in, in, located in the area of 1.1650 -1.1670.
Objectives for building a downward wave:
1.1556 - 76.4% by Fibonacci
1.1500
Objectives for an upward wave option:
1.1650 - 1.1670
General conclusions and trade recommendations
The construction of a new downward trend. It is now possible to continue the decline in quotes within wave a, in a, in c, in (C) with targets located near the estimated 1.1556 mark, which corresponds to 76.4% Fibonacci, and lower, about 15 figures. Within the framework of constructing a corrective wave in the composition of 2, in a, in a, in c, in (C), there is a possibility of a decline of prices from the reached lows with targets near the levels 1.1650 and 1.1670. The downward corridor preserves the prospects for constructing a downtrend section of the trend.
