Analysis of wave counting:
At the beginning of yesterday's European session, the pair EUR / USD began to win back the earlier divergence of MACD and fell back to the level of 1.1825 at the end of trading. It can be assumed that, despite this decline, the currency pair has so far remained in the stage of forming the wave b, (C), keeping prospects for price growth to the level of the 19th figure. At the same time, the continuation of the indicated decrease in quotations may lead to the end of wave b, (C), as well as an even more complication of the internal wave structure of waves c, a, (C).
The objectives for the construction of the downward wave:
1.1664 - 200.0% of Fibonacci
1.1600
The objectives for the construction of an upward wave:
1.1850 - 1.1900
General conclusions and trading recommendations:
The construction of a new downward trend section continues. It is now possible to resume the decline in quotations within the wave c, (C) with targets located near the calculated mark of 1.1664, which corresponds to 200.0% of Fibonacci and lower about 16 and 15 figures. In the context of the upward wave b, (C), the quotations continue to move away from the reached lows with the targets that are about 19 figures. The MACD divergence warns of the tool's readiness to reduce quotes.