Analysis of wave counting:
The attempt on Friday to resume the upward movement was not successful and the price for the pair EUR / USD fell back to the level of 1.1810 until the end of the auction. It can be assumed that as a result of this reduction, the currency pair somewhat complicated the internal wave structure of wave b, (C). If so, the currency pair retained the potential, allowing it to continue the growth of quotations to the level of the 19th figure. At the same time, the likelihood of further development of the downward movement and the formation of the wave c, a, (C) in the form of a five-wave structure still has not lost its relevance.
The objectives for building a downward wave:
1.1619 - 161.8% of Fibonacci
1.1600
The objectives for the construction of an upward wave:
1.1880 - 50.0% of Fibonacci
1.1930 - 61.8% of Fibonacci
General conclusions and trading recommendations:
The construction of a new downward trend segment is continuing. It is now possible to resume the decline in quotes within the wave c, (C) with targets located near the calculated mark of 1.1619, which corresponds to 161.8% of Fibonacci and lower about 16 and 15 figures. Within the upward wave b, (C), the quotes continue to move away from the reached lows with targets near the marks of 1.1880 and 1.1930, which corresponds to 50.0% and 61.8% of Fibonacci.