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Wave analysis

24.04.201823:52 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for April 24, 2018

Long-term review

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Analysis of wave counting:

During the yesterday's trading, the currency pair EUR / USD continued the fall that began on Thursday, losing about 100 percentage points in price and tested the level of the 22nd figure at the end of the day. At the same time, it seems that the currency pair remained in the stage of formation of the wave c, c, a, B, (C), in which its inner 3rd wave took a somewhat extended form. If this is so, then the ratio between the dimensions of the waves a, c, c, a, B, (C), allows the currency pair to continue the decline of quotations and at least work out the mark of 1.2150.

The objectives for building a downward wave:

1.2152 - 100.0% of Fibonacci

The objectives for building an upward wave:

1.2414 - 76.4% of Fibonacci

1.2446 - 88.6% of Fibonacci

General conclusions and trading recommendations:

The wave counting on the instrument involves the construction of a downward trend section. The assumed wave b, c, a, B, (C) completed its construction near the calculated mark of 1.2414, which corresponds to 76.4% of Fibonacci. It is now expected to continue the downgrade with targets near the estimated level of 1.2152, which is equivalent to 100.0% of Fibonacci, within the wave c, c, a, B, (C).

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