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20.02.201810:44 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for February 20, 2018

Long-term review

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Analysis of wave counting:

The dynamics in the development of the downward movement on Friday allowed the EUR / USD pair to continue the decline during yesterday's trading and to finish the mark of 1.2370 in the second half of the day. At the same time, we can assume that the currency pair remained in the stage of formation that has somewhat complicated the wave structure of the 2nd wave, in the 5th, in the 5th, in A, in (C). If this is the case, starting from the low of the past day, or slightly lower, the currency pair may resume the growth of quotations and mark the beginning of the future 3rd wave, in the 5th, in the 5th, in A, in (C).

Objectives for building a downward wave:

1,2344 - 23.6% Fibonacci retracement

1.2340

Goals for building an upward wave:

1.2600 - 1.2700

General conclusions and trading recommendations:

The construction of an upward wave A, in (C), continues, whose internal marking continues to become more complicated. The correction of the 4th wave has supposedly completed its formation. If this assumption is correct, the increase in quotes will resume within the 3rd wave, in 5th, in A and in (C) with targets that are about 26 figures and higher after the completion of the current 2nd wave with targets near the calculated mark of 1.2344, which corresponds to 23.6% of Fibonacci.

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