FX.co ★ Wave analysis of the EUR / USD currency pair. Weekly review

Analysis of wave counting:

Last Wednesday, the breakdown of the level of the 17th figure led to the subsequent rebound of the EUR / USD pair price by more than 150 percentage points from the already reached minimum. The resulting wave situation allows us to assume that the currency pair continued to attempt to complete the entire wave c, e, and B and go to the stage of formation of the first generating waves in the composition of the future wave C. If this is so and wave c, e, B still does not take an even more complicated form, the currency pair will resume the decline in quotations during the development of the wave of the structure of the 1st wave, in C.

Objectives for an upward wave option:

1.1849 - 261.8% by Fibonacci

1.2036 - 300.0% by Fibonacci

Goals for the downward wave option:

1.1547 - 200.0% by Fibonacci

1.1400

General conclusions and trading recommendations:

The instrument presumably continues to build an upward wave B. This week, the increase in quotations may resume within the expected wave c, c, e, B with targets located near the calculated marks of 1.1849 and 1,2036, which corresponds to 261.8% and 300.0% of Fibonacci. If this wave completes its construction, then the instrument will pass (or has already passed) to the stage of a long decline within the framework of wave C with the first targets located around 15 figures.