Analysis of wave counting:

During the Friday's trading, the pair EUR / USD could not continue the development of the downward movement, having rolled back above the mark of 1.1760 at the end of the day. It can be assumed that the currency pair still remained in the stage of formation of the 3rd wave in (C), continuing to make attempts to form the beginning of its internal 3rd wave. If this is the case, the currency pair will resume the decline of quotations in the direction of the settlement targets for this 3rd wave in (C), located up to the level of 1.1500. At the same time, as noted earlier, under the existing conditions, the probability that the 2nd wave in (C) can take the form of an extended oblique correction remains.

The objectives for the construction of a downward wave:

1.1625 - 100.0% by Fibonacci

1.1565 - 127.2% by Fibonacci

Aims for building an upward wave:

1.1898 - 161.8% by Fibonacci

1.2000

General conclusions and trading recommendations:

The currency pair supposedly completed the wave (B) near the mark of 1.1898. It is now possible to continue the decline in quotations within the first waves in the future (C) with targets located near the marks of 1.1625 and 1.1565, which corresponds to 100.0% and 127.2% of Fibonacci. The correction wave 2, in the future 3 is nearing its end, but it can become more complicated.