FX.co ★ Wave analysis of EUR / USD for December 7. Calm before the storm

Wave counting analysis:

In the course of trading on Thursday, the EUR / USD pair gained several dozen points and thus remained within the framework of the construction of the proposed wave from the corrective trend section. The wave takes a very complex and unusual look. This is due to the expectation of a market for Brexit voting results in the UK Parliament. After it becomes clear what decision parliamentarians take, the wave pattern may take a clearer view. However, it may also require additions since the decision may be unexpected and definitely will not remain a strong market reaction.

Sales targets:

1.1215 - 0.0% Fibonacci

Shopping goals:

1.1471 - 100.0% Fibonacci

1.1528 - 127.2% Fibonacci

General conclusions and trading recommendations:

The pair continues to be in the framework of building an upward set of waves. Based on the current wave counting, I expect quotes to increase with targets located near the estimated 1.1471 mark. However, wave c may take a shorter look, and after December 11 all wave markings may change significantly. Thus, any deals for the pair should now be intraday in nature.