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Exchange Rates 13.06.2018 analysis

Analysis of wave counting:

During the trades on Tuesday, the currency pair EUR / USD lost another 40 percentage points. Thus, the proposed wave 4, 1, 1, continues its construction, and the pair may drop by another 20-30 percentage points before resuming the rise in wave 5. The option still remains relevant with a strong complication of the internal structure of the global wave 2, but so far, there is no basis for speculating the execution of this option. The breakthrough of the minimum of the proposed wave 2, 1, 1, will make this scenario seem very probable.

The objectives for the option with sales:

1.1700 - 1.1650

The objectives for the option with purchases:

1.1958 - 161.8% of the Fibonacci of the highest order

1.2070 - 127.2% of the Fibonacci of the highest order

General conclusions and trading recommendations:

The currency pair EUR / USD continues to be within the framework of wave 4, 1, 1. On this basis, I recommend remaining in purchases targets near the level of 1.1837, which corresponds to 200.0% of Fibonacci, and above. During the construction of wave 5, 1, 1, I recommend reducing the purchases gradually, since after the completion of this wave, a reduction in the area of 17 figures within the wave 2, 1, 5, is possible. The break of the minimum from June 5 will warn about the pair's readiness for a strong decrease and complication of the wave 5, c, 2.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Viele Grüße,
Analytiker: Chin Zhao
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