Analysis of wave counting:
The EUR / USD spot trading began with the continuation of the upward movement, which was indicated on the eve of the ascending motion and broke the September high of the previous year at 1.2090 during the beginning of the European session. It reached the level of 1.2220. At the same time, it can be assumed that the currency pair remained in the stage of formation of wave b, in the 4th, in A, and in (C), in which its internal wave с assumed a highly elongated form, which its internal wave с assumed a highly elongated form. If this is the case, the pair still performs a U-turn and mark the beginning of a wave of the future within 4-y, in A and in (C) from a maximum of the last day of the last week, and after working the mark of 1.2240.
Objectives for building a downward wave:
1.1900 - 1.1800
Goals for building an upward wave:
1.2241 - 261.8% Fibonacci retracement
General conclusions and trading recommendations:
The construction of the upward wave A and in (C) continues. The assumed wave b, at 4, in A, in (C) resumed its construction and once again greatly complicated its internal structure. If this assumption is correct, the increase in quotations will continue with the targets near the estimated level of 1.2241, which corresponds to 261.8% of Fibonacci, and higher. After its completion, the quotations are expected to fall in the region of 19 and 18 figures.