30.01.201809:35 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for January 30, 2018

Analysis of wave counting:

Yesterday's trading of the currency pair EUR / USD started with the resumption of the downward movement, losing about 90 pp in price and fell to the level of 1.2335 in the afternoon. It can be assumed that the currency pair has attempted to confirm the completion of the 3rd wave, 5th, A, (C) and the transition to the formation stage of wave a, 4th, 5th, A, (C). If this is so, then despite the remaining potential for the resumption of the growth of quotations and even more complication of the entire 3rd wave, 5th, A, (C), the currency pair can continue the price decrease in the direction of the level of the 22nd figures.

The objectives for building the downward wave:

1.2224 - 38.2% of Fibonacci

1.2127 - 50.0% of Fibonacci

The objectives for building the upward wave:

1.2500

General conclusions and trading recommendations:

The construction of the upward wave A, in (C), the internal marking of which has incurred changes, continues. The assumed wave 3, 5, A, (C), probably completed its construction near the calculated mark of 1.2476, which corresponds to 423.6% of Fibonacci. If this is the case, within the limits of the correctional wave 4, the quotes may resume from the peaks reached with targets near the estimated levels of 1.2224 and 1.2127, which is equivalent to 38.2% and 50.0% of Fibonacci.