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18.02.201910:46 Forex Analysis & Reviews: Wave analysis of EUR / USD for February 18. Quiet monday

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 18.02.2019 analysis

Wave counting analysis:

On Friday, February 15, the bidding ended for the pair EUR / USD by a fall of 60 basis points with the same boost. Therefore, at the end of the day, the pair did not lose a single bp. At the same time, the estimated wave 3 no longer looks as perfect as it has been for days, but it still retains the probability of beginning to build a new upward wave, possibly the fourth within the triangle. This might be perhaps the first wave of the new triple up. One way or another, the option of building an upward wave remains the most attractive for the tool. Today, President's Day is celebrated in America. Meanwhile, there's no strong news in Europe.

Sales targets:

1.1228 - 127.0% Fibonacci

1.1215 - 0.0% Fibonacci

Shopping goals:

1.1356 - 23.6% Fibonacci

1.1444 - 38.2% Fibonacci

General conclusions and trading recommendations:

The pair allegedly completed the construction of the downward wave 3. Thus, now I recommend buying with targets located near the estimated level of 1.1444, which corresponds to 38.2% Fibonacci. A successful attempt to break through the levels of 127.2% and 0.0% Fibonacci will lead to a further decrease in the instrument.

Chin Zhao
Analytical expert of InstaForex
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