FX.co ★ Wave analysis of the EUR / USD currency pair for August 15, 2017

Analysis of wave counting:

In the conditions of low activity during yesterday's trading, the pair EUR / USD still started the decline and "slipped" to the level of 1.1770 until the end of the day. Thus, it can be assumed that the currency pair made an attempt to complete the 2nd wave as part of the future (C), moving to the stage of formation of the 3rd wave in (C). If this is the case, the 2nd wave in (C) will not take an even more complicated form, then the currency pair will continue to decline quotations in the direction of the level of the 16th figure.

The objectives for building a downward wave:

1.1696 - 100.0% by Fibonacci

1.1619 - 76.4% by Fibonacci

Aims for building an upward wave:

1.1898 - 161.8% by Fibonacci

1.2000

General conclusions and trading recommendations:

The currency pair supposedly completed the wave (B) near the mark of 1.1898. It is now possible to resume the decline in quotations within the first wave as part of the future (C) with targets located near the marks of 1.1696 and 1.1619, which corresponds to 100.0% and 76.4% of Fibonacci. Within the framework of the correction wave 2, quotations rose above 18 figures but this wave, most likely, has already completed its construction.