Wave analysis of EUR / USD for December 4. The pair is ready to build an ascending wave 3


Wave counting analysis:

EUR / USD added 30 bp during the trading on Monday. Thus, there are reasons to assume the completion of the construction of wave 2 while 3 new upward trend sections in the future. If this is true, then the increase in quotations will continue with targets located near the levels of 100.0% and 127.2% on the small Fibonacci grid. As we all know before, the tool retains the chances of complicating the downward portion of the trend, which will start on September 24.

Sales targets:

1.1215 - 0.0% Fibonacci

Shopping goals:

1.1471 - 100.0% Fibonacci

1.1528 - 127.2% Fibonacci

General conclusions and trading recommendations:

The pair continues to be in the framework of the uptrend of the trend. Thus, I recommend buying a pair with targets located near the estimated marks of 1.1471 and 1.1528, which corresponds to 100.0% and 127.2% in Fibonacci. I also recommend to return to sales no earlier successful attempt to break through the minimum of the supposed wave 2.

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