20.06.201810:31 Forex Analysis & Reviews: Wave analysis of EUR / USD for June 20. The rise to the area of 19 figures is still possible

Analysis of wave counting:

As a result of the previous trading day, the currency pair EUR / USD lost more than 100 percentage points from the day's high, but it closed most of the losses by the end of the day. The most interesting is that, despite the new decline in quotes, the chances of building an upward wave 3, 1, are preserved, since at least May 29 is not broken. Although it should be recognized that the chances of strengthening the euro are now minimal. The reason for this is the fundamental reasons, the market simply does not find the reasons for buying Eurocurrency. Thus, within the next few days, a breakthrough of the level of 1.1510 may occur, which will mean the pair's readiness to conquer new lows.

The objectives for the option with sales:

1.1439 - 323.6% of the Fibonacci of the highest order

1.1121 - 423.6% of the Fibonacci of the highest order

The objectives for the option with purchases:

1.1958 - 161.8% of the Fibonacci of the highest order

1.2070 - 127.2% of the Fibonacci of the highest order

General conclusions and trading recommendations:

The currency pair EUR / USD, supposedly, completed the construction of wave 2, 1, 3. However, at any time, the instrument may require the introduction of adjustments to wave counting. If this assumption is correct, then the increase in quotations will resume with the targets being around 1.1958 and 1.2070, which is equivalent to 161.8% and 127.2% of Fibonacci. On the basis of what, I recommend to stay in the previously small purchases. The break of the May 29 low will mean the resumption of the construction of the downward trend section. In this case, I recommend resuming sales with targets of 1.1439 and 1.1121.