Analysis of wave counting:
At the beginning of yesterday's trading, the pair EUR / USD resumed the upward movement, having added more than 80 percentage points in the price and reached the level of 1.2370 in the afternoon. At the same time, it seems that the currency pair confirmed the transition to the stage of formation of the first generating waves in the future wave 5, 5, A, (C). At the same time, until the quotes are released for a maximum of January 25 (1.2535), the probability of forming a correctional wave 4, 5, A, (C) will be preserved in the form of a more oblique triangle in time.
The objectives for building a downward wave:
1.2224 - 38.2% of Fibonacci
1.2127 - 50.0% of Fibonacci
The objectives for building an upward wave:
1.2500 - 1.2600
General conclusions and trading recommendations:
The construction of an upward wave A, (C), continues, whose internal marking continues to become more complicated. The correction wave 4 can take an even more complicated form and continue the construction with targets located near the calculated marks of 1.2224 and 1.2127, which corresponds to 38.2% and 50.0% of Fibonacci. A failed attempt to break the mark of 1.2224 could lead to the completion of wave 4.
