09.02.201810:41 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for February 9, 201

Analysis of wave counting:

After updating the minimum reached the previous day, the pair EUR / USD could not determine the direction of the movement and completed yesterday's trading near the opening of the day. At the same time, it can be assumed that the currency pair continued to make attempts to complete the formation of the slightly more complicated form of wave c, 4, 5, A, (C). If this is so, then, practically from the lows of the past day (or slightly lower), the currency pair will resume the growth of quotations and thus mark the beginning of the future wave 5, 5, A, (C). At the same time, as noted earlier, under the existing conditions, the probability of forming the entire wave 4, 5, A, (C) is preserved in the form of a rather oblique triangle in time.

The objectives for building a downward wave:

1.2224 - 38.2% of Fibonacci

1.2127 - 50.0% of Fibonacci

The objectives for building an upward wave:

1.2500 - 1.2600

General conclusions and trading recommendations:

The construction of an upward wave A, (C), continues, whose internal marking continues to become more complicated. The assumed wave 3, 5, A, (C) has completed its construction. The correction wave 4 assumes a rather complex form and continues to build with targets located near the calculated marks of 1.2224 and 1.2127, which corresponds to 38.2% and 50.0% of Fibonacci. An unsuccessful attempt to reach the mark of 1.2224 may lead to the withdrawal of quotations from the achieved lows.