FX.co ★ Wave analysis of the EUR / USD currency pair for January 8, 2018

Analysis of wave counting:

During the last day's trading, the pair EUR / USD began with a decline and reached 1.2020 at the end of the US session. It can be assumed that the currency pair has made another attempt to complete the formation of the wave c, b, in the 4th, A, (C) and designate the beginning of the future wave c, in the 4th, A, (C). At the same time, it is still possible to test the currency pair of the level of the 21st figure and further complicate the internal wave structure of the wave c, c, b, in the 4th, A, (C).

The objectives for the construction of a downward wave:

1.1823 - 50.0% by Fibonacci

1.175 - 38.2% by Fibonacci

Goals for the construction of an upward wave:

1.2000 - 1.2100

General conclusions and trading recommendations:

The construction of the downward trend section continues. The assumed wave b, at 4, A, (C) supposedly completed its construction. If this assumption is correct, then the decline in quotations will begin with targets near the estimated levels of 1.1823 and 1.1759, which corresponds to 50.0% and 38.2% of Fibonacci, and lower. At the same time, wave b, at 4, A, (C) can further complicate its internal structure.