Wave analysis of EUR / USD for January 9. The level 1.1471 keeps the instrument from growing

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Wave counting analysis:

During the bidding on Tuesday, January 8, the pair went down with a decrease of 30 basis points. There were already three attempts to break through the level of 100.0%, and the pair continues to remain near it, which suggests that the quotations will continue to increase, especially given the fact that the current wave counting involves the construction of an upward wave of 3 in s. Thus, now the pair must still make a breakthrough level of 100.0%. At the same time, it should be recognized that the news background now still does not support the euro too much.

Sales targets:

1.1315 - 23.6% Fibonacci

1.1266 - 0.0% Fibonacci

Shopping goals:

1.1528 - 127.2% Fibonacci

1.1599 - 161.8% Fibonacci

General conclusions and trading recommendations:

The pair continues to be in the construction stage of the proposed wave. Thus, I still recommend cautious purchases of a pair with targets located near the estimated marks of 1.1528 and 1.1599, which corresponds to 127.2% and 161.8% Fibonacci. A successful attempt to break the 1.1471 mark will indicate the readiness of the instrument for further enhancement and also to confirm the current wave marking.

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