Wave counting analysis:
On Friday, January 11, trading ended for EUR / USD by 30 bp lower. Nevertheless, the current wave counting continues to suggest the construction of an upward wave 3, in the future with. If this is true, then the increase in quotations will continue from current levels or slightly lower with targets located near the levels of 127.2% and 161.8% Fibonacci. There is a reason to expect a strong decline at the moment. The current wave pattern looks pretty convincing.
Sales targets:
1.1444 - 38.2% Fibonacci (formal goal)
Shopping goals:
1.1599 - 161.8% Fibonacci
1.1677 - 200.0% Fibonacci
General conclusions and trading recommendations:
The pair continues to be in the construction stage of the proposed wave 3, in s. Thus, I still recommend buying a pair with targets located near the estimated marks of 1.1599 and 1.1677, which corresponds to 161.8% and 200.0% of Fibonacci. The internal correctional wave at 3, c may already be completed or is nearing completion, and an unsuccessful attempt to break through the level of 100.0% will indicate that the instrument is ready to build a new ascending wave.
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