Analysis of wave counting:
In general, as expected, at the beginning of yesterday's trading, the EUR/USD pair resumed the downward movement and already in the middle of the day was able to work out the target mark of 1.1555. At the same time, it can be assumed that the currency pair confirmed the transition to the stage of formation of the 3rd wave, in a,in a, in c, in (C), which, by the close of the American session, was not fully completed. If this is the case, then the currency pair has good prospects for continuing the decline in quotes towards the level of 1.1450. At the same time, a fairly strong divergence of the MACD_aka indicates the possibility of initiating a long upward correction, with the prospect of further complicating not only the wave structure of the wave a, in c, in (C), but also in wave b, in c, in c, in (C) .
Targets for a downward wave option:
1.1556 - 76.4% by Fibonacci
1.1450 - 100.0% by Fibonacci
Targets for an upward wave option:
1.1664 - 38.2% by Fibonacci
1.1705 - 50.0% by Fibonacci
General conclusions and trading recommendations:
The construction of a new downward trend segment is continuing. It is now possible to continue the decline in quotes within the wave 3, in a, in a, in, c, in (C) with targets located near the estimated marks of 1.1556 and 1.1450, which corresponds to 76.4% and 100.0% Fibonacci. The downward movement preserves the prospects of constructing a downtrend section of the trend. Convergence MACD_aka warns of possible withdrawal of quotes from the reached lows.
