25.01.201810:02 Forex-elemzések és áttekintések: Wave analysis of the EUR / USD currency pair for January 25, 2018

Analysis of wave counting:

Prior the ECB meeting today, the EUR / USD yesterday started to trade from the upward movement and added about 120 pp in price. It broke the level of the 24th figure at the end of the day. It can be assumed that the currency pair continued the development of the internal wave structure of the 5th wave, in the 3rd, in the 5th, in A, in (C), in the whole uptrend beginning from the low of January last of the year. If this the case, then it seems that the development of the calculated target in the area of 1.2475 mark will allow the currency pair to designate the top of the entire 3rd wave, in the 5th, in A, in (C).

Targets for building the downward wave:

1.2000 - 1.2100

Targets for building an upward wave:

1.2476 - 423.6% Fibonacci retracement

1.2500

General conclusions and trading recommendations:

The construction of the upward wave A, in (C), continues in the internal marking which incurred some changes. The increase in quotations may continue with the targets near the estimated level of 1.2476, which corresponds to 423.6% of Fibonacci, and nearly above 25 figures, within wave 3, at 5, in A, in (C). Within the framework of the correctional wave 4, the quotations may start to move away from the reached maximum, with the target about 21 figures.

* The presented market analysis is informative and does not constitute a guide to the transaction.