Analysis of wave counting:
After the growth at the beginning of yesterday's trading to the level of 1.1480, the pair EUR / USD held in the range with a maximum amplitude of price changes of about 40 percentage points. The current wave situation allows us to assume that the currency pair was still in the stage of formation of the wave c, c, a, (C), completing its internal 4th wave. If this is so, then, keeping the potential for lowering the quotations to 1.1665 - 1.1650, the currency pair will remain for some time within the corridor, limited by the level of the 18th figure and the mark of 1.1730.
The objectives for building the downward wave:
1.1664 - 200.0% of Fibonacci
1.1600
Objectives for the construction of the upward wave:
1.1788 - 127.2% of Fibonacci
1.1850
General conclusions and trading recommendations:
The construction of a new downward trend segment. It is now possible to resume the decline in quotes within the wave c, c, a, (C) with targets located near the estimated mark of 1.1664, which corresponds to 200.0% of Fibonacci and lower about 16 figures. The assumed wave 4, c, c, a, (C) can continue its construction to the mark of 1.1788, which is equivalent to 127.2% of Fibonacci and a little higher.