FX.co ★ Wave analysis of EUR / USD for July 25. A decrease in the area of 15 figures is expected.

Analysis of wave counting:

In the course of trading on Tuesday, the currency pair EUR / USD continued to withdraw quotes from previously reached lows. However, the amplitude of the motion left much to be desired, so the wave pattern for the past day practically did not change. The assumed wave 4, which took the form of a diagonal triangle, is completed. If this is the case, then the decline in quotes will continue within the framework of the future wave 5. A successful attempt to break the lower generatrix of the tapering corridor of the line will confirm the pair's readiness to build a descending set of waves.

Objectives for the option with sales:

1.1507 - 100.0% of Fibonacci

1.1444 - 127.2% of Fibonacci

Objectives for the option with purchases:

1.1834 - 200.0% of Fibonacci

1.1957 - 161.8% of Fibonacci

General conclusions and trading recommendations:

The correction wave 4 supposedly completed its construction. Thus, I recommend continuing the formation of sales in terms of building a bearish wave 5 with the first targets located near the marks of 1.1507 and 1.1444, which is equivalent to 100.0% and 127.2% of Fibonacci. Break through the bottom line of the corridor will increase the sales of the pair. To buy, I do not recommend going back to a successful attempt to break the top line of the corridor.