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24.04.201800:05 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair. Weekly review

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 24.04.2018 analysis

Analysis of wave counting:

On Thursday, having failed to overcome the level of the 24th figure, the currency pair EUR / USD began a downward movement, having lost about 150 percentage points in price and completed the Friday session with working off the mark of 1.2250. At the same time, there were grounds for speculating that as a result of this decline, the currency pair moved to the final stage of the formation of the internal wave structure of the wave c, a, B, (C). If this is the case, the currency pair may continue the resumed decline of quotations to the level of 1.2200, or even to 1.2100.

The objectives for the option with an upward wave:

1.2400

The objectives for the option with a downward wave:

1.2200 - 1.2100

1.2032 - 23.6% of Fibonacci

General conclusions and trading recommendations:

The tool supposedly completed the construction of the upward trend section. The wave b, a, B, (C) is also supposedly completed. If this is the case, then the reduction of quotations will continue with the targets located about 22 and 21 figures and about the estimated mark of 1.2032, which corresponds to 23.6% of Fibonacci, within the limits of wave c, a, B, (C).

Chin Zhao
Analytical expert of InstaForex
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