Analysis of wave counting:
Earlier, the dynamics of the downward movement allowed the currency pair EUR / USD to start the last week's trading with a decline, losing more than 200 percentage points and reached the level of 1.1910 on Friday. At the same time, it can still be assumed that the currency pair continued to form the highly oblong wave c, c, B, (C). If this is so, then from the already reached minimum, or after testing the level of the 18th figure, the currency pair can execute a turn against the dollar and denote the beginning of the future wave d, B, (C), or even resume the formation of the main upward trend.
The objectives for the option with an upward wave:
1.2200 - 1.2400
The objectives for the option with a downward wave:
1.1709 - 38.2% of Fibonacci
1.1447 - 50.0% of Fibonacci
General conclusions and trading recommendations:
The tool supposedly completed the construction of the upward trend section. The decrease of quotations may continue with the targets located near the calculated marks of 1.1709 and 1.1447, which corresponds to 38.2% and 50.0% of Fibonacci, within the limits of wave c, B, (C). After the completion of this wave, it is expected to increase in the area of 22 and 24 figures in the wave d, B, (C).
