Wave analysis of EUR / USD for November 23. The pair continues to grow hard without news support

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Wave counting analysis:

In the course of trading on Thursday, the EUR / USD currency pair gained another 20 basis points, so the current wave pattern has not changed again. It is still assumed that the correctional wave 2 of the new upward trend section has completed its construction. If this is true, then today the quotations continued to increase within wave 3 with targets above the 15th figure. Difficulties the pair adds a lack of positive news for the euro background. Without it, the pair moves up quite difficult and slow.

The objectives for the option with sales:

1.1215 - 0.0% of Fibonacci

The objectives for the option with purchases:

1.1500 - 100.0% of Fibonacci

1.1577 - 127.2% of Fibonacci

General conclusions and trading recommendations:

The currency pair continues to build an upward set of waves. Thus, now I recommend buying a pair with targets located near the estimated marks of 1.1500 and 1.1577, which corresponds to 100.0% and 127.2% in Fibonacci. A successful attempt to break through the maximum of the supposed wave 4 will confirm readiness for further growth of the instrument.

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