Wave analysis of EUR / USD for December 6. Eurocurrency: the chances of growth remain

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Wave counting analysis:

In the course of trading on Wednesday, the EUR / USD currency pair did not lose a single point, but did not grow either. Thus, the wave marking remains the same and implies the construction of an upward wave from the corrective part of the trend. If this is true, then the increase in quotations will resume with targets located near the level of 100.0%. You should also take into account the weak help of the news background, which can lead to the fact that wave C gets a shorter look.

The objectives for the option with sales:

1.1215 - 0.0% of Fibonacci

The objectives for the option with purchases:

1.1471 - 100.0% of Fibonacci

1.1528 - 127.2% of Fibonacci

General conclusions and trading recommendations:

The currency pair continues to be in the framework of building an upward set of waves. I expect an increase in quotations with targets located near the estimated mark of 1.1471, but I admit the completion of the wave c in the near future. Thus, purchases should be as cautious as possible, and I do not recommend opening sales until a signal is received that the downward trend is more complicated.

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