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

Analysis of wave counting:

Last week, the pair EUR / USD started with a decline and returned to the level of the 20th figure only after testing the mark of 1.1850. At the same time, it can be assumed that the currency pair made another attempt to complete the formation of a highly elongated wave c, e, B. If this is so, while maintaining the potential for working off the level of 1.2100, the currency pair can continue the development of the downward movement and perhaps, designate the beginning of the future wave C in the main downward trend.

Targets for the upward wave option:

1.2036 - 300.0% of Fibonacci

1.2100

Targets for the downward wave option:

1.1547 - 200.0% of Fibonacci

1.1400

General conclusions and trading recommendations:

The instrument continues to build an upward wave B, which takes on an increasingly complex form. This week, the increase in quotes may continue in the context of a complicated wave with c, e, B with targets located near the estimated mark of 1.2036, which corresponds to 300.0% of Fibonacci and above about 21 figures. After the completion of the construction of this wave, the instrument will begin to decrease within the framework of wave C with the first targets located around 15 figures.