FX.co ★ Wave analysis of EUR / USD for March 19. The wave is nearing completion

Wave counting analysis:

On Monday, March 18, trading ended for EUR / USD by 15 bp increase. Thus, the estimated wave a continues to be built with targets located near the 50.0% level in the older Fibonacci grid. The news background for the tool remains neutral, as there has been little important news lately. However, this does not prevent the pair from building an upward wave. However, this wave cannot be infinite, therefore, in the near future, the construction of a correctional wave b can begin. An unsuccessful attempt to break through the level of 50.0% may lead to a departure of quotes from the reached highs and the pair's transition to a descending wave formation.

Sales targets:

1.1269 - 38.2% Fibonacci (small grid)

1,1234 - 23.6% Fibonacci (small grid)

Purchase goals:

1.1373 - 50.0% Fibonacci

General conclusions and trading recommendations:

The pair presumably continues to build the first wave of the upward trend. Now, I recommend buying a pair with targets located near the 1.1373 mark, which corresponds to 50.0% Fibonacci. If the attempt to break through this mark is unsuccessful, the instrument will most likely proceed to the construction of a descending wave, near which minimum, it will be possible to buy a pair again.