11.04.201823:44 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for April 11, 2018

Analysis of wave counting:

In the course of yesterday's trading, the currency pair EUR / USD nevertheless continued to develop the upward movement, adding about 70 percentage points in price and already in the middle of the day, it was able to work out the next settlement target in the area of 1.2375 mark. It can be assumed that the currency pair has completed the formation of a rather complex internal wave structure of wave b, c, a, B, (C). If this is the case, then practically from the high of the past day, the currency pair will resume the decline of quotations and will mark the beginning of the future wave c, c, a, B, (C).

The objectives for building a downward wave:

1.2204 - 161.8% of Fibonacci

The objectives for building an upward wave:

1.2376 - 61.8% of Fibonacci

1.2434 - 76.4% of Fibonacci

General conclusions and trading recommendations:

The wave counting on the instrument involves the construction of a downward trend section. Now, the quotations are expected to increase within the wave b, c, a, B, (C) with targets near the estimated levels of 1.2376 and 1.2434, which corresponds to 61.8% and 76.4% of Fibonacci. After the completion of this wave, the decline in quotations may resume with targets below 22 figures. An unsuccessful attempt to reach the mark of 1.2376 may lead to the completion of the upward wave construction.