Wave analysis of the EUR / USD currency pair for May 11, 2018

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Analysis of wave counting:

In the course of yesterday's trading, the EUR/USD pair continued the development of the upward movement that began on the eve and added almost 100 pp in price, reaching the level of 1.1945 in the afternoon. Thus, the emerging wave situation and the spent ratio (1.618 Fibo) between the dimensions of waves a and c, in B, in (C) suggest that the currency pair made another attempt to go into the stage of formation in generating the first wave in the future wave d, in B, in (C). At the same time, the currency pair retained the potential of further complicating the internal wave structure of the wave c, in B, in (C). At the same time, the currency pair retained the potential for further complicating the internal wave structure of the wave c, in B, in (C) and the resumption of a decline in quotations at least to the level of the 18th figure.

Goals for sales:

1.1828 - 161.8% by Fibonacci

1.1807 - 685.4% by Fibonacci

Goals for shopping:

1.1931 - 523.6% Fibonacci retracement

1.2000

General conclusions and trading recommendations:

The assumed wave c, in B, in (C) has completed its construction. Thus, it is now preferable to purchase within the limits of the wave d, in B, in (C) with targets located about 20 figures. I recommend going back to sales after a successful attempt of a breakout on the mark of 11828, as this will mean the complication of the wave s, in B, in (C) with targets of about 17 figures. The material has been provided by InstaForex Company - www.instaforex.com