Analysis of wave counting:
After a short delay in the area of the previous day's low, in the second half of yesterday's trading, the currency pair EUR / USD continued to develop a downward movement, breaking through the level of the 18th figure and fell almost to the level of 1.1760. In this case, the wave c, c, b, (C) assumed the form of a completely completed five-wave structure. If this is the case, the whole wave c, c, b, (C) will not take even more complicated form, then the currency pair can perform a turn against the dollar, with the prospect of resuming the formation of the main upward trend.
The objectives for the option with sales:
1.1674 - 200.0% of Fibonacci
1.1600
The objectives for the option with purchases:
1.2000 - 1.2200
General conclusions and trading recommendations:
The assumed wave c, B, (C) resumed its construction, but still approaches its completion. Thus, I recommend selling the pair with targets located near the calculated mark of 1.1674, which corresponds to 200.0% of Fibonacci. However, the overfullness of the indicators and the fact that wave c is nearing completion is suggestive of the imminent beginning of the construction of the wave d, B, (C) with the first targets located about 20 and 21 figures.
