23.10.201710:00 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair. Weekly review

Analysis of wave counting:

Last week, the pair EUR / USD remained in a rather narrow price range and trading around the level of the 18th figure. It can be assumed that the currency pair has attempted to complete the wave b and designate the beginning of the wave c, a, C. If this is so and wave b, a, C does not take the form of a more extensive horizontal correction, continue the decline in quotations in the direction of the level of 1.1500.

Targets for the upward wave option:

1.1918 - 11.4% of Fibonacci

Goals 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 corrective wave b, a, C, the quotations may continue to move away from the reached lows with a target near the mark of 1.1918, which corresponds to 11.4% of Fibonacci, but the wave now looks complete.