Analysis of wave counting:
Testing the level of the 24th figure triggered a rebound in the EUR/USD pair price yesterday by more than 70 percentage points from the highs reached at the beginning of the European session. Thus, due to the growth of quotations to the correctional level of 61.8%, it can be assumed that the currency pair has practically completed the formation of the wave b, in c, in a, in B, in (C) and tried to assign the beginning of the wave c, in this sec , in a, in B, in (C). At the same time, despite the considerable divergence of the MACD_aka, the currency pair retains the potential for further complicating the internal wave structure of wave b, in c, in a, in B, in (C), as well as the resumption of upward movement down to the level of 1.2450 .
Targets for a downward wave option:
1.2204 - 161.8% by Fibonacci
Targets for an upward wave option:
1.2414 - 76.4% by Fibonacci
1.2446 - 88.6% by Fibonacci
General conclusions and trading recommendations:
Wave marking on the trading instrument involves the construction of a downward trend section. The assumed wave b, in c, in a, in B, in (C) can significantly complicate its internal structure with targets located near the markers of 1.2414 and 1.2466, which corresponds to 76.4% and 88.6% Fibonacci . Further increase in quotations may lead to the need to clarify the current wave counting. Unsuccessful attempt to breach the mark of 1.2414 led to the withdrawal of quotations from the highs achieved.
