21.02.201809:36 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for February 21, 2018

Analysis of wave counting:

Having started the yesterday's trading with a downward movement, the currency pair EUR / USD lost about 90 percentage points in price and reached the level of 1.2320 in the afternoon. At the same time, it can be assumed that the currency pair continued to form the formation that began to take a somewhat longer form, the wave 2, 5, 5, A, (C). If this is so, then from the minimum of the past day, or after testing the level of the 23rd figure, the currency pair will resume the growth of quotations and thereby indicate the beginning of the future wave 3, 5, 5, A, (C).

The objectives for building a downward wave:

1.2339 - 61.8% of Fibonacci

1.2287 - 76.4% of Fibonacci

The objectives for building an upward wave:

1.2600 - 1.2700

General conclusions and trading recommendations:

The construction of an upward wave A, (C), continues, whose internal marking continues to become more complicated. The increase in quotations may resume within the framework of wave 3, 5, 5, A, (C) with targets that are about 26 figures and higher after the completion of the current correction wave 2 with targets near the calculated marks of 1.2339 and 1.2287, which corresponds to 61.8% and 76.4% of Fibonacci.