FX.co ★ Wave analysis of the EUR/USD currency pair for September 14, 2017

Analysis of wave counting:

Unable to resume the upward movement during yesterday's European session, the EUR/USD pair began with the continuation of the downward movement and, losing about 100 percentage points, reached the level of 1.1875 at the end of the day. Thus, the emerging wave situation may allow us to consider the highs of the past Friday as the maximum of the entire 5th wave, in c, in c, in E, in (B), and the subsequent decline in prices as the beginning of the formation of the first generating waves in the future wave C. At the same time, the currency pair still retained some preconditions for further complicating the 5th wave, in c, in c, in E, in (B) and working off the level of the 21st figure.

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 assumed wave (B) may have completed its construction. It is now possible to lower the prices within the first waves in the future (C) with targets located near the estimated marks of 1,1860 and 1,1771, which corresponds to 127.2% and 100.0% of Fibonacci. The wave (B) can once again complicate its internal wave structure.