FX.co ★ Wave analysis of the EUR / USD currency pair for November 17, 2017

Analysis of wave counting:

In conditions of low trading activity demonstrated in yesterday's session, the EUR/USD pair continued its slow decline and reached the level of 1.1755 during the second half of the day. In this case, it seems that the currency pair confirmed the transition to the formation stage where the correction structure is being reduced in the proposed wave b, in c, and in ( C ). If so, the currency pair retained the potential to lower quotations to the level of the 17th figure, although, this will be in a more complex downward trajectory.

Objectives for building a downward wave:

1.1743 - 38.2% by Fibonacci

1,1706 - 50,0% by Fibonacci

Goals for building an upward wave:

1,1853 - 423.6% by Fibonacci

General conclusions and trading recommendations:

The construction of a new downward trend segment resumes. It is now possible to continue the increase in quotations within the proposed wave c, in b, in c , in (C) with targets above 19 figures. A decline began within the corrective wave b, in b, in c, in (C) and this may continue to decrease with targets near the calculated marks of 1.1743 and 1.1706.