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

Analysis of wave counting:

During the trades of the last week, the pair EUR / USD could not develop the indicated upward movement and from the Tuesday low, the price rebounded by almost 190 percentage points, reaching the level of 1.2520. It can be assumed that despite such a pullback, the currency pair remained in the stage of formation of the first generating waves, in the future wave 4, 5, A, (C). At the same time, under the current conditions, the currency pair can continue the growth of quotations to the level of the 26th figure, thereby giving the wave 3, 5, A, (C) an even more complex and extended form.

The objectives for the option with an upward wave:

1.2532 - 200.0% of Fibonacci

1.2600

The objectives for the option with a downward wave:

1.2000 - 1.2200

General conclusions and trading recommendations:

The tool continues to build the upward trend section. This week, it is possible to reduce quotations within the wave 4, 5, A, (C) with goals located between 20 and 22 figures. An unsuccessful attempt to reach the mark of 1.2532 warns of the willingness of the instrument to build a downward wave. At the same time, it is possible to continue increasing quotations with the complication of wave 3, 5, A, (C).