Analysis of wave counting:
Yesterday's EUR/USD trades started with an upward movement and in the afternoon, after reaching the level of 1.1835, returned to the level of the 18th figure. At the same time, it can be assumed that the currency pair still remained in the formation stage, which significantly complicated its wave structure b, in c, in a, in (C). If this is the case, then in the course of development of the wave с, in b, in с, in а, in (С), the currency pair can continue the growth of quotations up to the marks 1.1850-1.1870.
Targets for a downward wave option:
1.1736 - 38.2% by Fibonacci
1.1666 - 23.6% by Fibonacci
Targets for an upward wave option:
1.1850-1.1900
General conclusions and trading recommendations:
The construction of the downward trend section continues. The assumed wave b, in c, in a, in (C) has completed its construction. If this assumption is correct, then the lowering of quotes will continue with the targets located near the calculated marks of 1.1736 and 1.1666, which corresponds to 38.2% and 23.6% of Fibonacci. An unsuccessful attempt to break the 1.1848 mark led to a possible completion of the upward wave construction. There is a small chance of resuming the construction of wave b, in c, in a, in (C) still present.
