21.07.201710:23 Forex Analysis & Reviews: Wave analysis of the EUR / USD currency pair for July 21, 2017

Analysis of wave counting:

After the meeting of the ECB yesterday, comments from M. Draghi provided substantial support to the euro. During the second half of the day, the pair EUR / USD resumed the expected upward movement, having added more than 170 pp in price, and was able to work out the mark of 1, 1655. Thus, it can be assumed that the currency pair continued to form the internal wave structure of the wave c, c, c, c, c, E, (B). If this is the case, the currency pair has acquired additional potential for the further growth of quotations to the level of 1,1750 or even to the level of the 18th figure.

Objectives for a downward wave option:

1.1414 - 127.2% by Fibonacci

1.1291 - 100.0% by Fibonacci

Objectives for an upward wave option:

1.1750 - 1.1800

General conclusions and trading recommendations:

The currency pair continues to build the wave (B), which takes on an increasingly complex form. Now, it is possible to continue increasing quotations within the wave c, c, c, E, (B) with targets located near the mark of 1,1750 and above, about 18 figures. After the wave (B) is completed, an extended decline in quotes within the wave (C) is expected.