Analysis of wave counting:
During the trades on Monday, the EUR / USD did not gain or lose a single base point. Although during the day, the amplitude of trading was quite high. The second unsuccessful attempt to break through the level of 127.2% again led to the withdrawal of quotations from the maximum reached and gives grounds for assuming the completion of the construction of wave 3, a. The upward corridor, however, continues to hold the pair within the framework of constructing an uptrend section of the trend. The breakthrough of the lower line forming the corridor will indicate the pair's readiness to build a downward wave, possibly 4, a.
The objectives for the option with sales:
1.1525 - 0.0% of Fibonacci retracement
The objectives for the option with purchases:
1,1791 - 127.2% of Fibonacci retracement
1.1844 - 161.8% of Fibonacci
General conclusions and trading recommendations:
The pair still remains in the stage of building wave 3, a. Thus, before the breakout of the bottom generatrix of the upward corridor of the line, I recommend that you stay in the pair with targets near the calculated marks of 1.1791 and 1.1864, which corresponds to 127.2% and 161.8% of Fibonacci. Breaking the bottom line of the corridor will lead to the idea of a readiness to decline and will allow selling the pair in small volumes with targets near the mark of 1.1685, which corresponds to 76.4% of Fibonacci.
