Analysis of wave counting:
During the trades on Wednesday, the currency pair EUR / USD added about 25 percentage points. Thus, there are still grounds for assuming the completion of the construction of wave 2, a. If this is the case, then the increase in quotations will continue within the framework of the future wave 3, a, with the first targets being around the level of 0.0% by Fibonacci. Today, the results of the meeting of the European Central Bank will be published, and this event can affect both the movement of the pair and the wave counting. The complication of wave 2, a, can be ascertained by an unsuccessful attempt to break through the maximum of the assumed wave b, 2, a, or to break through the minimum of the assumed wave c, 2, a.
The objectives for the option with sales:
1.1517 - 50.0% of Fibonacci retracement
1.1465 - 61.8% of Fibonacci retracement
The objectives for the option with purchases:
1.1733 - 0.0% of Fibonacci retracement
General conclusions and trading recommendations:
The currency pair supposedly completed the construction of wave 2, a, but retains high chances of complicating this wave. If this is true, then the pair can resume the decline, which will be limited to the levels of 1.1517 and 1.1465, which corresponds to 50.0% and 61.8% of Fibonacci, and the attempt to break the maximum from September 6 will fail. If this condition is met, then the pair can be sold in small quantities. A confident attempt to break the high of September 6 will significantly increase the chances of a pair rising within wave 3.