FX.co ★ Wave analysis of EUR / USD for July 19. The potential for the fall of the euro is quite high

Analysis of wave counting:

During the trades on Wednesday, the currency pair EUR / USD lost about 25 percentage points. Thus, the pair continues to remain within the framework of the proposed wave 3, 5, downward trend section. If this is true, then now there are no visible reasons for the growth of the currency pair. The correction wave 2, 5, is completed. Only a successful attempt to break through the high of July 9 will indicate the readiness of the pair to build an upward set of waves and will require the introduction of adjustments to the current wave counting.

The objectives for the option with sales:

1.1510 - 100.0% of Fibonacci

1.1433 - 127.2% of Fibonacci

The objectives for the option with purchases:

1.1866 - 100.0% of Fibonacci

1,2072 - 127.2% of Fibonacci

General conclusions and trading recommendations:

The upward correction wave 2, 5, completed its construction. Therefore, we expect a further decline in quotes, and I recommend that you stay in the pair sales or even build them up with targets located near the estimated marks of 1.1510 and 1.1433, which corresponds to 100.0% and 127.2% of Fibonacci's wave 4. I recommend going back to shopping not earlier than the breakthrough of wave maximum 4. Until now, there is no reason to assume strong pair growth.