Wave analysis of EUR / USD for December 17. The currency pair still retains the chances of building a wave c

ZuoL9NCmRRjnOkmj5Gm6aIhLfiXHMfPbQKEYI2xv

Wave counting analysis:

In the course of trading on Friday, the EUR / USD currency pair fell by 60 basis points and broke through the support line. The most interesting thing is that the minimum of the assumed wave b has not yet been broken, so the probability of constructing wave c in the complicated version is preserved. Although, of course, the probability is now quite low. A successful attempt to break the wave b minimum will warn you of the readiness of the instrument to further decrease and will require adjustments to the current wave counting.

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 1.1266 will lead to a further decline with targets located near the estimated mark of 1.1215, which is equal to 0.0% Fibonacci and lower. The current wave counting is ambiguous and allows for both the construction of a wave c and the complication of a downward trend section. Thus, I recommend, first of all, to be careful when opening any transactions.

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