For Traders

Analytical Reviews

Wave analysis

26.12.201708:59 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair. Weekly review

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Analysis of wave counting:

Trades of the pre-Christmas week began with an upward movement for the EUR/USD pair which already rolled back on Wednesday to the 19th figure. Thus, it can be assumed that the currency pair remained in the stage of wave formation in a, c, a, and c, which considerably complicating its internal wave b. If this is the case, the currency pair will resume the decline of quotations in the direction of targets for the entire wave a, c, a, and c, located at the level of the 16th, or even the 15th figures, after reaching the maximum level or slightly higher.

Goals for the option with an upward wave:

1.1918 - 11.4% Fibonacci retracement

1.2000

Targets for a downlink wave option:

1.1510 - 38.2% by Fibonacci

1.1330 - 50.0% Fibonacci retracement

General conclusions and trading recommendations:

The instrument continues to build the first wave of the future as part of the C. The reduction of quotations within wave a and C could be continued with the targets located near the settlement marks 1.1510 and 1.1330, which corresponds to 38.2% and 50.0% Fibonacci. The assumed wave b, in a, in C has been completed.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.