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

Analysis of wave counting:

Unable to continue the upward movement above the 1.2475 mark, the EUR / USD pair continued its price reduction and lose around 190 pp. The level of the 23rd figure was broken at the end of last week. It can be assumed that the currency pair has already designated the beginning of the wave c, in a, in B , in (C) after completing the wave b. In this case, the currency pair may have good prospects in lowering quotations to the level of 1.2200 and further to the level of 1.2125.

Goals for the option with an upward wave:

1.2444 - 11.4% by Fibonacci

1.2500

Targets for a downlink wave option:

1.2127 - 50.0% Fibonacci retracement

1.2030 - 61.8% on Fibonacci basis

General conclusions and trading recommendations:

The tool supposedly completed the construction of the upward trend section. The wave b, in a, in B, in (C) is supposedly completed. If this is the case, the wave does not have a more complicated outlook, then the decline of quotes will continue with the targets located near the calculated marks 1.2127 and 1.2030, which corresponds to 50.0% and 61.8%, respectively.