24.11.201710:11 Forex Analysis & Reviews: Wave analysis of the EUR/USD currency pair for November 24, 2017

Analysis of wave counting:

During yesterday's trading, the EUR/USD pair continued the growth of quotations and in the middle of the day has been able to work out the mark of 1.1850. It seems that the currency pair remained in the stage of forming the wave c, in b, in a, in (C), which, by the end of the American session, retained some elements of incompleteness. If this is the case, then before the start of the wave c, in a, in (C), the currency pair can add about 70 percentage point in the price and reach the estimated price values for the entire wave b, in a, in (C), located in the area of the mark of 1.1920.

Targets for a downward wave option:

1.1736 - 38.2% by Fibonacci

1.1666 - 23.6% by Fibonacci

Targets for an upward wave option:

1.1848 - 61.8% by Fibonacci

General conclusions and trading recommendations:

The construction of the downward trend section continues. Now it is possible to continue increasing quotations within the proposed wave c, in b, in a, in (C) with targets located near the estimated mark of 1.1918, which corresponds to 76.4% of Fibonacci. Within the limits of wave с, in а, in (С), the decrease of quotations can resume after the completion of the current wave with targets located below 15 figures.