empty
 
 
14.02.2019 10:40 AM
Wave analysis of EUR / USD for February 14. The euro is ready for a raise, will the news prevent it?

This image is no longer relevant

Wave counting analysis:

On Wednesday, February 13, trading ended for EUR / USD by 65 bpts. Thus, wave 3, which can still be transformed into a wave from the three wave sections of the trend in its internal wave structure looks complete. However, it is confused only by its size relative to the first wave of this area. It is this factor that suggests that wave 3 is still a wave from a trend already completed or nearing completion. If this is true, then instead of a single upward wave, we are now waiting for the construction of a new ascending set of waves. This option is opposed to the news background, which, to put it mildly, is not in favor of the euro.

Sales targets:

1.1228 - 127.0% Fibonacci

1.1215 - 0.0% Fibonacci

Shopping goals:

1.1444 - 38.2% Fibonacci

1.1514 - 50.0% Fibonacci

General conclusions and trading recommendations:

The pair supposedly completed the construction of the downward wave 3. Thus, now I recommend waiting for confirmations to the beginning of the upward wave construction with targets located near the estimated 1.1444 mark, which corresponds to 38.2% Fibonacci, and after receiving them to buy the instrument.

Chin Zhao,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback