Analysis of wave counting:
During the Good Friday, the currency pair EUR / USD held within a very narrow price range, trading between the level of the 23rd figure and the mark of 1.2330 until the end of the day. Thus, it seems that the currency pair remained within the limits of wave a, c, a, B, (C), forming thus its internal wave 4. If this is the case, the currency pair has retained the potential to continue the decline of quotations, and before marking the beginning of the future wave b, c, a, B, (C), at least work out the mark of 1.2250.
The objectives for building a downward wave:
1.2250 - 1.2200
The objectives for building an upward wave:
1.2461 - 76.4% of Fibonacci
1.2530 - 100.0% of Fibonacci
General conclusions and trading recommendations:
The wave marking on the instrument continues to become more complicated and tangled. The decline of quotations may continue in the wave c, a, B, (C) with targets located between the levels of 1.2250 and 1.2200. The assumed wave b, a, B, (C) has completed its construction. After the completion of the construction of this wave, it is expected to retreat quotations from the achieved minimum.
