16.10.201709:39 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair. Weekly review

Analysis of wave counting:

Having started the trading last week with the upward movement, the pair EUR / USD added more than 150 pp in price and was able to work out the mark of 1.1880 on Thursday. It can be assumed that after completing the wave a, a, C, which took a rather complicated form, the currency pair moved to the stage of forming the wave b, a, C. If this is so, then despite the potential for resuming the downward movement, the currency pair can continue the growth of quotations and at least test the level of the 19th figure.

Targets for the upward wave option:

1.1918 - 11.4% of Fibonacci

Targets for the downward wave option:

1.1510 - 38.2% of Fibonacci

1.1330 - 50.0% of Fibonacci

General conclusions and trading recommendations:

The tool supposedly completed the construction of the rising wave B, which took a rather complicated form. This week, it is possible to resume the decline in quotations within the wave c, a, C with targets located near the estimated marks of 1.1510 and 1.1330, which corresponds to 38.2% and 50.0% of Fibonacci. Within the correction wave b, a, C, the quotations may continue to move away from the reached lows with the aim of around the mark of 1.1918, which corresponds to 11.4% of Fibonacci.