Analysis of wave counting:
During Friday's European session, the EUR/USD pair started with an upward movement and, having added more than 100 percentage points in the price, finished the tradings session in the 1.1945 mark. At the same time, it can be assumed that the currency pair remained in the stage of formation of the wave c, in b, in a, in (C), which by the end of the day took a practically completed form. If this is the case, then testing the level of 1.1950 may lead to a currency pair reversal in favor of the dollar, which in turn will mark the beginning of the future wave c, in a, in (C).
Targets for a downward wave option:
1.1736 - 38.2% by Fibonacci
1.1666 - 23.6% by Fibonacci
Targets for an upward wave option:
1.1918 - 76.4% by Fibonacci
1.1946 - 76.4% by Fibonacci
General conclusions and trading recommendations:
The construction of the downward trend section continues. It is now possible to continue increasing quotations within the proposed wave c, in b, a, in (C) with targets located near the estimated marks of 1.1918 and 1.1946, which corresponds to 76.4% and 76.4% of Fibonacci. Within the limits of wave с, in а, in (С) the decline of quotes can resume after the completion of the current wave with targets located below 15 figures.
