12.09.201709:54 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for September 12, 2017

Analysis of wave counting:

Yesterday, the EUR/USD pair's trades began with a fairly dynamic downward movement and, losing more than 70 pp in price, breaking the 1.1950 mark at the end of the day. At the same time, despite this decline, it can be assumed that the currency pair remains within the 5th wave, in the 5th, in c, in c, in the E, in (B), significantly complicating its internal wave structure. If this is so, then practically from the lows reached yesterday, the currency pair can resume the growth of prices in the direction of the 21st figure level.

Objectives for a downward wave option:

1.1860 - 127.2% by Fibonacci

1.1771 - 100.0% by Fibonacci

Objectives for a an upward wave option:

1.2098 - 200.0% by Fibonacci

1.2200

General conclusions and trading recommendations:

The currency pair resumed the construction of the wave (B). It is now possible to resume the rise in prices within wave 5, in c, in c, in E, in (B), with targets located near the estimated mark of 1.2098, which corresponds to 200.0% of Fibonacci, and above about 22 figures. After the completion of the construction of this wave, a long and large-scale decline in the wave (C) is expected.