16.10.201812:45 Forex Analysis & Reviews: Wave analysis of EUR / USD for October 15. Growth potential, Euro currency is still there

Wave counting analysis:

In the course of trading on Friday, the EUR / USD currency pair rose by 40 base points. However, the estimated wave b may take the 3-waveform. If this is true, then the increase in quotations will resume with targets located near the estimated marks of 50.0% and 61.8% Fibonacci. There were no unsuccessful attempts to break through one of the target levels, which also suggests the pair is not ready to complete the construction of wave b. Thus, I do not recommend returning to sales.

The objectives for the option with sales:

1.1432 - 0.0% of Fibonacci

The objectives for the option with purchases:

1.1622 - 50.0% of Fibonacci

1.1667 - 61.8% of Fibonacci

General conclusions and trading recommendations:

The currency pair continues to build the proposed wave b. Thus, I recommend to continue to stay in the pair with goals located near the estimated marks of 1.1622 and 1.1667. After working out one of these marks, we can expect an unsuccessful attempt to overcome, which will signify the completion of wave b. I recommend switching to sales of the pair after receiving an eloquent signal of the completion of wave b.