29.05.201809:56 Forex Analysis & Reviews: Wave analysis of EUR / USD for May 29. The wave 5 of the downward pulse continues to become more complicated.

Analysis of wave counting:

During the trading on Monday, the EUR / USD currency pair ended with a fall of more than 100 percentage points and a breakthrough of the calculated mark of 1.1636, which led to an even more complicated wave 5, c, 2, of the downward part of the trend. Now, the pair is expected to decline further to 1.1542 and 1.1438. Despite several unsuccessful attempts to break through the important Fibonacci levels, bears continue to dominate the market, which leads to an increasing complexity of the downward set of waves.

The objectives for the option with sales:

1.1542 - 261.8% of Fibonacci

1.1438 - 323.6% of Fibonacci

The objectives for the option with purchases:

1.1835 - 200.0% of the Fibonacci of the highest order

General conclusions and trading recommendations:

The currency pair EUR / USD continues to build wave 5, c. Now, I recommend selling the pair with targets located near the calculated marks of 1.1542 and 1.1438, which corresponds to 261.8% and 323.6% of Fibonacci. Given the strength of the US dollar and bears on a currency pair, I recommend to form purchases after confirming the completion of the downward wave 2, that is, after the formation of the first two waves of a new upward trend section.