FX.co ★ Wave analysis of the EUR / USD currency pair for September 7, 2017

Analysis of wave counting:

Yesterday, the repeated attempts of the EUR / USD pair to overcome the mark of 1.1950 ended with failure, and by the end of the trading, the price returned to the opening levels of the day. It can be assumed that the currency pair remained in the stage of formation of the first generating waves in the composition of the future 5th wave, in the 5th, c, c, E, (B). If this is the case, the currency pair retained the potential, allowing it to continue the growth of quotations at least to the level of the 21st figure.

The objectives for the construction of the downward wave:

1.1860 - 127.2% of Fibonacci

1.1771 - 100.0% of Fibonacci

Aims for building the upward wave:

1.2098 - 200.0% of Fibonacci

1.22200

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, 5, c, c, E, (B) with targets located near the estimated mark of 1.2098, which corresponds to 200.0% of Fibonacci and above about 22 figures. Wave 4, 5, c, c, E, (B) supposedly completed its construction near the mark of 1.1860, which corresponds to 127.2% of Fibonacci.