Trading Conditions
Products
Tools
Wave counting analysis:
On Tuesday, February 5, trading ended for EUR / USD by another 35 bp decline. Thus, the current wave counting retains its integrity and implies the continuation of the construction of the downward wave 3 with targets located near the level of 0.0% Fibonacci and below. Even with the fulfillment of the backup version, which involves building not a pulsed, but a three-wave section of the trend, a decline is still expected within wave c. With regard to the news background, yesterday's reports showed a slight improvement in business activity in Europe and a deterioration in the United States. However, the dollar still continues to be in demand, which coincides with the prospects for the wave pattern.
Sales targets:
1,1289 - 0.0% Fibonacci
1.1215 - 0.0% Fibonacci
Shopping goals:
1.1502 - 76.4% Fibonacci
1.1569 - 100.0% Fibonacci
General conclusions and trading recommendations:
The pair continues to build a downward wave of 3. Thus, now I still recommend selling the instrument with targets located near the marks of 1.1289 and 1.1215, which equates to 0.0% and 0.0% Fibonacci. There are no prerequisites for changing the working version. It is needed to clarify the wave marking now.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.