Analysis of wave counting:
During the last session of last year, the pair EUR / USD continued to develop the upward movement, adding about 85 pp in price and broke the level of the 20th figure in the afternoon. Thus, if we consider the entire upward trend of 2017, as the process of forming wave A, (C), then the currency pair practically completed the wave b, in the inner fourth wave, A, (C). If this is so, then from the maximum already reached on Friday, or slightly higher, the currency pair can execute a turn and designate the beginning of the future wave c, 4th, A, (C).
The objectives for the construction of a downward wave:
1.1823 - 50.0% of Fibonacci
1.175 - 38.2% of Fibonacci
Goals for the construction of an upward wave:
1.2000 - 1.2100
General conclusions and trading recommendations:
The construction of the downward trend section continues. The assumed wave b, 4, A, (C) continues its construction. If this assumption is correct, then the quotes increase will continue with the goals of about 20 and 21 figures, after which a resumption of the slide is still expected with targets located near the calculated marks of 1.1823 and 1.1759, which corresponds to 50.0% and 38.2% of Fibonacci, and lower.
