Analysis of wave counting:
After a three-day growth, the EUR / USD pair's trading on Friday began with a downward movement, having lost more than 100 percentage points and fell back to the level of 1.2410 in the second half of the day. The current wave situation allows us to assume that the currency pair can significantly complicate the internal wave structure of the wave 4, 5, 3, 5, A, (C), continuing the indicated decrease in the direction level of the 23rd figure. At the same time, under the current conditions, the currency pair may resume the growth of quotations at any time, at least to the level of 1.2600.
The objectives for building a downward wave:
1.2224 - 38.2% of Fibonacci
1.2127 - 50.0% of Fibonacci
The objectives for building an upward wave:
1.2500 - 1.2600
General conclusions and trading recommendations:
The construction of an upward wave A, (C), continues, whose internal marking continues to become more complicated. The assumed wave 3, 5, A, (C) complicated its internal wave structure and resumed its construction with targets located around 26 figures. The correction wave 4 turned out to be very short, but it can complicate its internal structure with targets near the marks of 1.2344 and 1.2224, which equates to 38.2% and 50.0% of Fibonacci.