25.07.201709:44 Forex-elemzések és áttekintések: Wave analysis of the EUR / USD currency pair for July 25, 2017

Analysis of wave counting:

Yesterday's trading of the EUR / USD pair began with a slow decline from the peak reached on Friday and slid to the level of 1.1625 at the end of the day. At the same time, it seems that the currency pair still remained in the stage of forming the wave c, c, c, c, c, E, (B), continue to complicate its internal wave structure. If so, the currency pair retains the potential for further growth of quotations to the mark of 1.1740-1.1750, or to the level of the 18th figure.

Objectives for a downward wave option:

1.1571 - 161.8% by Fibonacci

1.1414 - 127.2% by Fibonacci

Objectives for an upward wave option:

1.1743 - 200.0% by Fibonacci

1.1800

General conclusions and trading recommendations:

The currency pair continues to build the wave (B), which takes an increasingly complex form. It is now possible to continue increasing quotations within the wave c, c, c, E, (B) with targets located near the mark of 1.1743, which corresponds to 200.0% Fibonacci, and above, about 18 figures. After the wave (B) is completed, an extended decline in quotes within the wave (C) is expected. The upward corridor preserves the prospects for increasing quotations.