Wave analysis of EUR / USD for February 7. The third wave continues its construction

analytics5c5bdfb3d7079.png

Wave counting analysis:

The trading on Wednesday, February 6, ended with another 40 bp decrease. Thus, the main scenario continues to be worked out, which involves building a downward wave 3 with targets located near the minimum of wave 1 and below. An unsuccessful attempt to break through the 23.6% Fibonacci level can lead to the departure of quotes from the lows reached and the construction of an internal correctional wave of 3. Near the minimum of wave 1, the fall can be completed and the trend section is transformed into a three-wave. News background is now almost zero.

Sales targets:

1,1289 - 0.0% Fibonacci

1.1215 - 0.0% Fibonacci

Shopping goals:

1.1502 - 76.4% Fibonacci

1.1569 - 100.0% Fibonacci

General conclusions and trading recommendations:

The pair continues to build a downward wave of 3. Thus, now I still recommend selling EUR / USD instruments with targets located near the levels of 1.1289 and 1.1215, which equates to 0.0% and 0.0% Fibonacci. There are no prerequisites for changing the working version and the need to clarify the wave marking. There is no news. A small pullback is possible.

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