Analysis of wave counting:
The attempt of the EUR / USD pair to resume the upward movement on Friday did not succeed, and from the maximum reached in the middle of the day (1.1980), towards the end of the American session, the price retreated by 130 percentage points to the level of 1.1850. It can be assumed that the currency pair was in the stage of formation of the first generating waves in the composition of the 5th wave, 5th, c, c, E, (B). If this is so, the internal wave structure of the entire 5th wave, c, c, E, (B) will not take an even more complicated form, the currency pair will continue to show the growth of quotations in the direction of the level of the 21st figure or the level of 1.2175.
The objectives for the construction of the downward wave:
1.1860 - 127.2% of Fibonacci
1.1771 - 100.0% of Fibonacci
Objectives for the construction of an upward wave:
1.2098 - 200.0% of Fibonacci
1.2200
General conclusions and trading recommendations:
The currency pair resumed the construction of the wave (B). It is now possible to resume the increase in quotations within wave 5, 5, c, c, E, (B) with targets located near the estimated mark of 1.2098, which corresponds to 200.0% of Fibonacci and above about 22 figures. The assumed wave 4, 5, c, c, E, (B) supposedly completed its construction near the mark of 1.1860, which corresponds to 127.2% of Fibonacci.