03.01.201812:21 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for January 3, 2018

Analysis of wave counting:

At the beginning of yesterday's European session, the pair EUR / USD resumed the upward movement, having added about 60 pp in price and already reached the level of 1.2080 in the middle of the day. Thus, it can be assumed that the currency pair has passed to the final stage of the formation of the wave c, c, b, 4th, A, (C). If this is the case, an attempt to test the level of the 21st figure can lead to a price reversal in favor of the dollar, which in turn will mark the beginning of the future wave c, 4th, A, (C).

The objectives for the construction of a downward wave:

1.1823 - 50.0% of Fibonacci

1.175 - 38.2% of Fibonacci

Goals for the construction of an upward wave:

1.2000 - 1.2100

General conclusions and trading recommendations:

The construction of the downward trend section continues. The assumed wave b, 4, A, (C) continues its construction. If this assumption is correct, then the quotes will continue to increase with targets around 21 figures, after which a resumption of the slide is still expected with targets located near the estimated levels of 1.1823 and 1.1759, which corresponds to 50.0% and 38.2% of Fibonacci, and lower.