Wave counting analysis:
During the Friday's trading, the EUR / USD currency pair lost another 40 percentage points more. Thus, the pair continues to remain within the proposed wave 4. If this is true, then in the near future, this wave will complete its construction, as it has already turned out to be very deep, and the entire trend segment, taking its beginning on August 15, takes the view of one of the correction triangles. A successful attempt to break through the minimum of wave 2 will make it necessary to refine all wave markings.
The objectives for the option with sales:
1.1594 - 76.4% of Fibonacci
1.1526 - 100.0% of Fibonacci
The objectives for the option with purchases:
1.1813 - 0.0% of Fibonacci
General conclusions and trading recommendations:
The currency pair continues to build wave 4 with targets near estimated levels of 1.1594 and 1.1526. Thus, I still recommend selling a pair with these goals. An unsuccessful attempt to break through one of these marks will lead to the departure of quotes from the reached minimums and, based on the current wave marking, to the beginning of the construction of the wave 5 of the upward trend segment. A break of 1.1526 marks the transition of the pair to the construction of a downtrend trend and will require adjustments.
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