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Analysis of wave counting:
The ambiguous results of the Sunday elections in Germany put pressure on the euro, which in turn led to a fall in the price of the pair EUR / USD to almost 1.1830. Thus, it can be assumed that the currency still remains in the stage of formation of the increasingly complex form of the 1st wave, (C). At the same time, the currency pair still retained the potential for resuming the growth of quotations and further complicating the internal wave structure of the 5th wave, c, c, E, (B).
The objectives for the construction of a downward wave:
1.1836 - 76.4% of Fibonacci
1.1776 - 100.0% of Fibonacci
Aims for building an upward wave:
1.2098 - 200.0% of Fibonacci
1.2200
General conclusions and trading recommendations:
The supposed wave (B), presumably, completed its construction. It is now possible to continue the reduction of quotations within the first wave of the future (C) with the first targets located near the calculated marks of 1.1836 and 1.1776, which corresponds to 76.4% and 100.0% of Fibonacci. Wave counting is not entirely unambiguous. An unsuccessful attempt to break the mark of 1.1836 may lead to the next withdrawal of quotations from the minimum reached.
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