28.01.201911:06 Forex Analysis & Reviews: Wave analysis of EUR / USD for January 28. Euro is preparing for a new fall

Wave counting analysis:

On Friday, January 25, bidding ended for the pair EUR / USD by 100 bp increase. Thus, there are grounds for assuming the completion of the construction of wave 1 of the new downward trend section and the transition to construction 2. If this is indeed the case, then at the current moment, this wave can also be completed. An unsuccessful attempt to break through the level of 50.0% warns about this. Thus, it is expected to resume the decline with targets located about 12 figures and below. At the same time, it should be recognized that it will be very difficult to pass the minimum of wave b, and it is quite possible that the wave marking will undergo changes as part of an unsuccessful attempt to break through.

Sales targets:

1.1269 - 100.0% Fibonacci

1.1188 - 127.2% Fibonacci

Shopping goals:

1.1419 - 50.0% Fibonacci

1.1455 - 38.2% Fibonacci

General conclusions and trading recommendations:

The pair began building a corrective wave. Thus, its completion will lead to the resumption of reduction of quotations with targets located near the calculated levels of 1.1269 and 1.1188, which equates to 100.0% and 127.2% Fibonacci. Now I recommend cautious sales of the pair with designated targets and orders limiting possible losses above the level of 50.0% on the small Fibonacci grid.