Wave analysis of EUR / USD for September 11. The growth of the dollar can be completed in the coming weeks

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Analysis of wave counting:

During the trades on Monday, the currency pair EUR / USD rose by 45 percentage points, but also managed to update the minimum of the expected wave a, 2, a. Thus, there are reasons to assume completion of the construction of the entire wave 2, a. Given some instability in the foreign exchange market in recent days, wave 2, a, can take even more complex shape. Nevertheless, now the working option is a variant with an increase in quotes within the assumed wave 3, a, upward trend section.

The objectives for the option with sales:

1.1517 - 50.0% of Fibonacci retracement

1.1465 - 61.8% of Fibonacci retracement

The objectives for the option with purchases:

1.1733 - 0.0% of Fibonacci retracement

General conclusions and trading recommendations:

The currency pair again supposedly completed the construction of wave 2, a. If this is the case, then from the current position, the pair will continue to grow with targets located near the estimated mark of 1.1733, which corresponds to 0.0% of Fibonacci, and higher. So, I recommend buying a pair with a designated goal. A successful attempt to break through the minimum of the assumed wave c, 2, a, will lead to an even more complicated wave 2, a.

The material has been provided by InstaForex Company - www.instaforex.com