16.02.201812:12 Forex Analysis & Reviews: Wave analysis of the EUR/USD currency pair for February 16, 2018

Analysis of wave counting:

During yesterday's trading, the EUR/USD pair continued to make attempts to develop the dynamic upward movement that began on the eve and at the end of the day managed to gain a foothold above the level of the 25th figure. At the same time, it seems that the currency pair remained in the final stage of the formation of the 1st wave, in the future 5th wave, in the 5th, in A, in (C). If this is the case, then before the start of the 2nd wave, in the 5th, in the 5th, in A, in (C), the currency pair can continue the growth of quotations and update the highs reached on January 25 (1.2535).

Targets for a downward wave option:

1.2224 - 38.2% by Fibonacci

1.2127 - 50.0% by Fibonacci

Targets for an upward wave option:

1.2500 - 1.2600

General conclusions and trading recommendations:

The construction of an upward wave A, in (C), continues, whose internal marking continues to become more complicated. Correction wave 4 supposedly completed its construction. If this assumption is correct, then the quotes increase will continue within the framework of wave 1, in 5, in 5, in A, in (C) with targets that are about 26 figures and higher.