Analysis of wave counting:
During yesterday's trading, the EUR/USD pair took a break and spent the entire day in the range, with a maximum extent of price changes of just over 30 pp. It can be assumed that the currency pair remained in the stage of formation of the wave a, in a, in the future c, in (C), in which its internal 2nd wave somewhat complicated its wave structure. If this is the case, the currency pair may resume the decline of prices or from the highs of the past day, or after trying to test the level of the 17th figure.
Targets for a downward wave option:
1,1556 - 76.4% by Fibonacci
1.1450 - 100.0% by Fibonacci
Targets for an upward wave option:
1.1650-1.1700
General conclusions and trading recommendations:
The construction of a new downward trend segment is continuing. It is now possible to resume the lowering of quotations within wave 3, in a, in a, in, c, in (C) with targets located near the calculated marks of 1.1556 and 1.1450, which corresponds to 76.4% and 100.0% Fibonacci. Within the framework of constructing the correctional wave 2, in a, in a, in c, in (C), the quotations continue to move away from the lows reached with targets near the markings 1.1650 and 1.1700. The downward movement preserves the prospects of constructing a downtrend section of the trend.
