Analysis of wave counting:
During yesterday's trading, the EUR/USD pair opened with a "gap" of more than 40 percentage points and in the second half of the day was able to work out the mark of 1.1830. In this case, it seems that the currency pair confirms the transition to the stage of formation of the first generating waves in the composition of the wave c, in a, in c, in a, in (C). At the same time, the currency pair retained the potential, allowing it to resume the growth of quotes to the level of 1.2000 and further complicate the internal wave structure of wave b, in a, in (C).
Targets for a downward wave option:
1.1792 - 50.0% by Fibonacci
1.1736 - 38.2% by Fibonacci
Targets for an upward wave option:
1.1946 - 76.4% by Fibonacci
1.2000
General conclusions and trading recommendations:
The construction of the downward trend section continues. The assumed wave b, in a, in (C) has completed its construction. If this assumption is correct, then the decline in quotations will resume with the targets located near the estimated marks of 1.1792 and 1.1736, which corresponds to 50.0% and 38.2% Fibonacci within the assumed wave a, in c,in a, in (C), and below.
