Analysis of wave counting:
Yesterday, most of the trading stood in the range and only with the beginning of the American session, the pair EUR / USD resumed the upward movement and broke through the mark of 1.1980 at the end of the day. It can be assumed that the currency pair remained within the 5th wave, c, c, E, (B), completing the formation of its internal 3rd wave. If this is the case, then from the high of the past day, the currency pair may begin a correction decrease and designate the beginning of the 4th wave, 5th, c, c, E, (B).
The objectives for building the downward wave:
1.1860-12.22% of Fibonacci
1.1771 - 100.0% of Fibonacci
Goals for the construction of the upward wave:
1.1973 - 161.8% of Fibonacci
1.2000
General conclusions and trading recommendations:
The currency pair resumed the construction of the wave (B). It is now possible to continue increasing quotations within the wave 3, 5, c, c, E, (B) with targets located near the estimated mark of 1.1973, which corresponds to 161.8% of Fibonacci and above about 20 figures. After the completion of the construction of the wave c, c, E, (B), an extended descending section of the trend will again be expected.