Analysis of wave counting:
Despite the rather low activity of yesterday's trading, the pair EUR / USD still undertook another attempt to resume the upward movement and at the end of the day managed to gain a foothold above the level of the 19th figure. The resulting wave situation allows us to assume that the currency pair can confirm the transition to the stage of formation of the first generating waves in the future wave 5, 5, c, c, E, (B). If this is the case, then in the development of the wave structure of this 5th wave, 5th, c, c, E, (B), the currency pair will have prospects that allow it to work at least the level of 1.2100.
The objectives for the construction of the downward wave:
1.1860 - 127.2% of Fibonacci
1.1771 - 100.0% of Fibonacci
Aims for building the upward wave:
1.2098 - 200.0% of Fibonacci
1.22200
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. Wave 4, 5, c, c, E, (B) supposedly completed its construction near the mark of 1.1860, which corresponds to 127.2% of Fibonacci.