In the course of trading on Thursday, the EUR / USD currency pair lost several points. The trend segment, taking its beginning on November 28, takes a horizontal shape and still belongs to the estimated wave from the corrective trend segment. Thus, this wave takes on a very complex internal structure, but targets located near the level of 100.0% remain in force. But a successful attempt to break through the 23.6% mark on Fibonacci will indicate that the instrument is ready to build a new downward trend, and the wave will take a shortened 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 wave c. A break of 1.1315 will lead to a resumption of the decline with targets located near the estimated mark of 1.1215, which is equal to 0.0% Fibonacci and lower. Therefore, I recommend selling no earlier than this breakthrough. I recommend to buy a pair only intraday until a successful attempt to break through the level of 1.1315 is made, with targets located on the way to 1.1471.
The material has been provided by InstaForex Company - www.instaforex.com