Trading on Thursday, December 27, ended for the EUR / USD currency pair by 80 basis points growth. Thus, if wave c is really completed, then the pair proceeded to build the proposed wave d or a completely new downward trend. Anyway, below the maximum of the wave c remains a good chance of reducing the instrument with targets located near the Fibonacci level of 0.0%. The breakthrough of the maximum of the wave c can lead to the complication of the internal wave structure of this wave and further growth.
Objectives for the option with sales:
1.1215 - 0.0% of Fibonacci
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 allegedly completed the construction of a wave c. Thus, now I recommend cautious sales of the pair with targets located near the estimated mark of 1.1215, which equates to 0.0% Fibonacci. The wave c can complicate the internal structure, however now it is still early to assume exactly this option. Purchases, therefore, I will recommend (also in small volumes) if a break of the maximum of the wave c will be performed.
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