16.02.201809:07 Forex Analysis & Reviews: Wave analysis of the EUR/USD currency pair for February 15, 2018

Analysis of wave counting:

After the rebound to the level of 1.2275 in the middle of yesterday's trading EUR/USD pair resumed the upward movement and by the end of the day was able to rise by more than 160 percentage points. Thus, it can be assumed that the currency pair has moved to the final stage of the formation of the 1st wave, in the future 5th, in the 5th, in A, in (C), whose first estimated targets are located near the level of the 26th figure. At the same time, as noted earlier, until the price reaches the high of January 25 (1.2535), the probability of formation of a corrective 4th wave, in the 5th, in A, in (C) in the form of an extended oblique triangle in time.

Targets for a downward wave option:

1.2224 - 38.2% by Fibonacci

1.2127 - 50.0% by Fibonacci

Targets for an upward wave option:

1.2500 - 1.2600

General conclusions and trading recommendations:

The construction of an upward wave A, in (C), wherein the inner markup continues to become more complicated. The correction wave 4 can take an even more complicated form and continue the construction with targets located near the estimated marks of 1.2224 and 1.2127, which corresponds to 38.2% and 50.0% of Fibonacci. An unsuccessful attempt to break the 1.2224 mark could lead to the completion of the construction of wave 4 and the beginning of the construction of an upward wave five, at 5, in A, in (C).