Analysis of wave counting:
The high volatility of yesterday's trading, provoked by the start of the trade war between the US and China, did not allow the EUR/USD pair to determine the direction of the movement, although it led to the completion of the upward correction, as well as the return of the price to the 1.2255 area. Down wherein the wave situation suggests that the pair continued to be preserved in the stage of formation is not completely finished appearance of waves and in a , in a in B , in (C). If this is the case, the currency pair retained the potential for continuing the decline of quotations up to the level of the 22nd figure.
Objectives for building a downward wave:
1.2250 - 1.2200
Goals for building an upward wave:
1,2461 - 76.4% by Fibonacci
1.2530 - 100.0% Fibonacci retracement
General conclusions and trading recommendations:
Wave marking on the instrument continues to become more complicated and tangled. The lowering of quotations may continue within wave a, in c, in a, in b, in c (C) with targets located between the levels of 1.2250 and 1.2200. The assumed wave b, in a, in B, in (C) has completed its construction. After the completion of the construction of this wave is expected to withdraw quotes from the reached minima within the wave b, in c, in a, in B, in (C).
