Analysis of wave counting:
After the ECB head Mario Draghi said that in order to maintain inflation growth it is necessary to maintain profuse incentives, the pair EUR / USD was able to work out the level of the 25th figure and only after that rebounded by more than 170 percentage points, to the mark of 1.2365. The current wave situation allows us to assume that the currency pair completed the formation of the 3rd wave, 5th, A, (C) and already marked the beginning of the future 4th wave, 5th, A, (C). If this is so, the 5th wave, 3rd, 5th, A, (C) will not take an even more complicated form, then the currency pair had good prospects for lowering quotations to the level of the 21st, or even the 20th figure.
The objectives for building the downward wave:
1.2000 - 1.2100
The objectives for building the upward wave:
1.2476 - 423.6% of Fibonacci
1.2500
General conclusions and trading recommendations:
The construction of the upward wave A, in (C), the internal marking of which has incurred changes, continues. The assumed wave 3, 5, A, (C), probably completed its construction near the calculated mark of 1.2476, which corresponds to 423.6% of Fibonacci. If this is the case, then within the limits of the correctional wave 4, the quotations may start to move away from the reached maximum with the goals, which are about 21 figures. The divergence of the MACD also warns of the willingness of the instrument to build a bearish wave.
