FX.co ★ Wave analysis of the EUR / USD currency pair for April 30, 2018

Analysis of wave counting:

The attempt to gain a foothold under the level of the 21st figure did not succeed, and from the minimum reached in the middle of Friday's session (1,2055), until the end of the day, the EUR / USD pair price rebounded to the level of 1.2130. The resulting wave situation allows us to assume that the currency pair, however, completed the formation of the third wave and already marked the beginning of the wave 4, c, c, B, (C). If this is the case, then in the process of developing the upward correction, the currency pair may continue the growth of quotations towards the level of 1.2200.

The objectives for building a downward wave:

1.2050 - 1.2000

The objectives for building an upward wave:

1.2168 - 300.0% of Fibonacci

1.2200

General conclusions and trading recommendations:

The wave counting on the instrument has undergone certain changes, but involves the construction of a bearish wave set. The quotations are now expected to fall from the reached lows within wave 4, c, c, B, (C) with targets located near the estimated level of 1.2168, which corresponds to 300.0% of Fibonacci, and above, about 22 figures. After the completion of the construction of this wave is expected to decline with targets below 1.2050.