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Wave analysis

19.01.201809:43 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for January 19, 2018

Long-term review

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Analysis of wave counting:

Yesterday's EUR / USD pair trades began with a rollback from the low reached the day before and managed to add about 100 pp in the price by the end of the day, having worked at the mark of 1.2265. Thus, it seems that the currency pair confirms the transition to the stage of formation of the first generating waves in the future wave c, 4th, A, (C). At the same time, the currency pair still retains the potential, allowing it to resume the growth of quotations to the level of the 24th or even 25th figure.

The objectives for building a downward wave:

1.2000 - 1.2100

The objectives for building an upward wave:

1.2331 - 323.6% of Fibonacci

General conclusions and trading recommendations:

The construction of the upward wave A, (C), continues. The assumed wave b, 4th, A, (C), may have completed its construction. The increase in quotations may resume with targets near the 1.2331 rating, which corresponds to 323.6% of Fibonacci, and above in the context of the complicated wave b, 4th, A, (C). If this wave is still complete, then the decline in quotations will continue with the targets, which are about 20 figures.

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