Analysis of wave counting:
On Thursday, having failed to overcome the level of the 24th figure, the currency pair EUR / USD began a downward movement, having lost about 150 percentage points in price and completed the Friday session with working off the mark of 1.2250. At the same time, there were grounds for speculating that as a result of this decline, the currency pair moved to the final stage of the formation of the internal wave structure of the wave c, a, B, (C). If this is the case, the currency pair may continue the resumed decline of quotations to the level of 1.2200, or even to 1.2100.
The objectives for the option with an upward wave:
1.2400
The objectives for the option with a downward wave:
1.2200 - 1.2100
1.2032 - 23.6% of Fibonacci
General conclusions and trading recommendations:
The tool supposedly completed the construction of the upward trend section. The wave b, a, B, (C) is also supposedly completed. If this is the case, then the reduction of quotations will continue with the targets located about 22 and 21 figures and about the estimated mark of 1.2032, which corresponds to 23.6% of Fibonacci, within the limits of wave c, a, B, (C).
