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Expert In



Wave analysis of EUR / USD pair on April 22. Market activity is zero on Easter Monday

Wave counting analysis:


With the bidding on Friday, April 19, the EUR/USD pair ended with an increase of 10 basis points. here are reasons to assume that the wave takes a full-fledged of 5-wave view and its internal wave 2 has completed its formation at the moment. If this is true, the tool will move to building an ascending wave 3 from current positions with targets located around 14 figures. However, updating the minimum of the assumed wave 2 in "s" will most likely need to clarify the current wave marking. However, the working version is the current option with an increase. The news background for today will be absent in honor of the celebration of Easter Monday. High activity from the market should not be expected today.

Sales targets:

1.1177 - 0.0% Fibonacci

Purchase targets:

1.1448 - 100.0% Fibonacci

1.1476 - 76.4% on the highest Fibonacci grid

General conclusions and trading recommendations:

The pair presumably remains within the framework of the construction of wave c and its internal wave 2 is probably completed. Thus, it is now a good opportunity to buy the pair based on the construction of wave 3 in "s". As mentioned before, I recommend buying in small lots at first and increase them as the execution is confirmed.

The material has been provided by InstaForex Company -