Wave analysis of EUR / USD for November 27. A pair may significantly complicate the downward trend

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Wave counting analysis:

During the Monday trading, the EUR / USD pair lost only 10 basis points. Nevertheless, the expected wave 2 of the new upward trend section continues its construction. And the more complex it takes, the less chance there is that an uptrend of the trend will be built, and not downwardly complicated. An unsuccessful attempt to break through the 38.2% of the Fibonacci level may throw the pair up, but without the corresponding news background, the euro will be difficult to continue building an upward set of waves.

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 remains until the construction of an upward set of waves. Thus, now I recommend cautious purchases of 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. But a successful attempt to break through the mark of 1.1324 is likely to lead to a transition to a backup scenario of events, suggesting the complication of the entire downward trend segment, originating from September 24.

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