FX.co ★ Wave analysis of the EUR/USD currency pair for September 1, 2017

The fall in the price to the region of 1.1820 in the second half of yesterday's trading led to the expected return of the EUR/USD pair above the level of the 19th figure. The current wave situation allows us to assume that as a result of this decline, the currency pair completed the formation of the 4th wave, in the 5th, in c, in the c, in E, in (B). If this is so, then the already identified upward movement can be considered as the beginning of the future 5th wave, in the 5th, in c, in c, in E, in (B), whose calculated targets are located in the range between 1,2100 and the level of 1,2175.

Objectives for a downward wave option:

1.1860 - 127.2% by Fibonacci

1.1771 - 100.0% by Fibonacci

Objectives for an upward wave option:

1.2098 - 200.0% by Fibonacci

1.2200

General conclusions and trading recommendations:

The currency pair resumed the construction of the wave (B). It is now possible to resume the increase in quotations within wave 5, in 5, in c, in c, in E, in (B) with targets located near the estimated mark of 1.2098, which corresponds to 200.0% of Fibonacci, and above, around the 22nd figure. The assumed wave 4, in 5, in c, in c, in E, in (B), probably completed its construction near the level of 1.1860, which corresponds to 127.2% of Fibonacci.