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Wave counting analysis:
On Friday, March 15, trading ended for the pair EUR / USD by an increase of 20 bp. Thus, the estimated wave a, after a successful attempt to break through the 38.2% Fibonacci level, continues its construction with targets located near the 50.0% Fibonacci level. Despite the fact that the growth of the euro continues, recent reports by US President Donald Trump raise concerns about the future of the euro. Trump believes that trade relations between the EU and the US are unfair and calls for negotiations on this issue, threatening to impose duties on European imports. Thus, the news background for the euro remains neutral for the time being, but in the near future it may become frankly negative.
Sales targets:
1.1269 - 38.2% Fibonacci (small grid)
1,1234 - 23.6% Fibonacci (small grid)
Purchase goals:
1.1373 - 50.0% Fibonacci
General conclusions and trading recommendations:
The pair presumably continues to build the first wave of the upward trend. Now, I recommend buying a pair with targets located near the 1.1373 mark, which corresponds to 50.0% Fibonacci, but take into account that the construction of a correctional wave b may begin shortly.
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