Analysis of wave counting:
After the rally at the beginning of the Friday session to the level of 1.1820, for the rest of the day the EUR/USD pair remained in the range, trading near the level of the 18th figure. The current wave situation makes it possible to assume that the low (1.1555) reached on November 7 is the completion of wave a, in b, in a, in (C), and the subsequent upward movement to 1.11860, the formation of wave b, in b, a, in (C). If this is the case, then before the rise of quotes to the possible settlement target for this wave b, in a, in (C), at the mark of 1.1920, the currency pair can continue the decline towards the level of 1.1700.
Targets for a downward wave option:
1.1736 - 38.2% by Fibonacci
1.1666 - 23.6% by Fibonacci
Targets for an upward wave option:
1.1848 - 61.8% by Fibonacci
1.1918 - 76.4% by Fibonacci
The construction of a new downward trend segment is continuing. It is now possible to continue the decline in quotes within the suggested wave b, in b, a, in (C) with targets located near the marks of 1.1736 and 1.1666, which corresponds to 38.2% and 23.6% of Fibonacci. Within the correction wave c, in b, in c, in (C), the increase in quotes will resume after the end of wave b with the targets that are about 19 figures.
