19.02.201809:43 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair. Weekly review

Analysis of wave counting:

As expected, the currency pair EUR / USD started trading from the upward movement last week and returned to the level of the 24th figure only after reaching the level of 1.2555 on Friday. At the same time, it seems that the currency pair has moved to the stage of formation of the wave 5, 5, A, (C) and has already completed its internal 1st wave. If this is so, then the currency pair may have good prospects for resuming the growth of quotations, at least to the level of 1.2600, or even to 1.3000.

The objectives for the option with an upward wave:

1.2532 - 200.0% of Fibonacci

1.2600 - 1.3000

The objectives for the option with a downward wave:

1.2224 - 38.2% of Fibonacci

1.2127 - 50.0% of Fibonacci

General conclusions and trading recommendations:

The tool continues to build the upward trend section. The wave 4, 5, A, (C) is supposedly completed. If this is the case, then the increase in quotations will continue within the limits of wave 5, 5, A, (C), located about 26 figures and higher. The upward corridor preserves the prospects for building an uptrend section of the trend.