Analysis of wave counting:
Yesterday's trading of the pair EUR / USD started with a rather dynamic downward movement, having lost about 90 pp and fell to the level of 1.1955 until the end of the day. The resulting wave situation suggests that the currency pair continued to make attempts to complete the wave c, b, 4, A, (C) and the beginning of the formation of the future wave c, 4, A, (C). At the same time, the likelihood of testing the currency pair of the level of the 21st figure and the more complicated internal wave structure of the entire wave c, b, 4, A, (C) still has not lost its relevance.
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) supposedly completed its construction. If this assumption is correct, then the decline in quotes will continue with targets near the estimated levels of 1.1823 and 1.1759, which corresponds to 50.0% and 38.2% of Fibonacci, and lower. At the same time, wave b, 4, A, (C) can further complicate its internal structure.
