23.01.201810:23 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for January 23, 2018

Analysis of wave counting:

Yesterday, the pair EUR / USD held within a fairly narrow price range, trading between the marks of 1.2215-1.2270. Moreover, despite the complicated wave pattern, it can still be assumed that the currency pair remained in the stage of formation of the first generating waves in the composition of the future wave c, 4th, A, (C). At the same time, as mentioned earlier, the currency pair retains the potential for the resumption of the growth of quotations to the levels of the 24th figure and a significant complication of the internal wave structure of the entire wave A, (C).

The objectives for building the downward wave:

1.2000 - 1.2100

The objectives for building an upward wave:

1.2331 - 323.6% of Fibonacci

1.22400

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 mark of 1.2331, which corresponds to 323.6% of Fibonacci, and above, about 24 figures, within the complex wave b, 4th, A, (C). If this wave is still completed, then the decline in quotations will continue with the targets, which are about 20 figures.