Wave counting analysis:
On Wednesday, December 26, trading for EUR / USD closed with a decline of 60 basis points. Thus, there is every reason to assume the completion of the construction of the upward wave c. If this is indeed the case, the decline in quotations will continue with targets located near the level of 0.0%. The entire wave structure, which takes its beginning on November 12, can even get a 5-wave view, but so far this option is reserved.
Sales targets:
1.1215 - 0.0% Fibonacci
Shopping goals:
1.1471 - 100.0% Fibonacci
1.1528 - 127.2% Fibonacci
General conclusions and trading recommendations:
The pair allegedly completed the construction of a wave. Thus, now I recommend cautious selling of the pair with targets located near the estimated mark of 1.1215, which equates to 0.0% Fibonacci. I still do not recommend buying the pair and there may be options for shopping near the level of 1.1215, since the entire trend section after November 12 may take a more complex look.
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