15.05.201810:02 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for May 15, 2018

Long-term review

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Analysis of wave counting:

Unable to reach the level of the 20th figure, in the second half of the yesterday's trading, the currency pair EUR / USD began a fairly dynamic decline, stopping near the mark of 1.1920 at the end of the day. It can be assumed that the currency pair still remained in the stage of formation of the first generating waves in the composition of the future wave d, B, (C). If this is the case, then, while maintaining the potential for the resumption of the growth of quotations, the currency pair can continue the already identified downward movement to the level of 1.800 and, thereby, further complicate the internal wave structure of the wave c, c, B, (C).

The objectives for the option with sales:

1.1828 - 161.8% of Fibonacci

1.1700

The objectives for the option with purchases:

1.2000 - 1.2200

General conclusions and trading recommendations:

The assumed wave c, B, (C) has completed its construction. So, now I recommend buying a pair as part of working off a wave d, B, (C) with targets located about 20 and 21 figures. I recommend to go back to sales after a successful attempt to break through the calculated mark of 1.1828, as this will mean an even more complicated wave c, B, (C), with the first targets below 17 figure.

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