Analysis of wave counting:

Only in the second half of yesterday's trading, the currency pair EUR / USD resumed the development of the downward movement, having lost about 60 percentage points in price and reached the level of 1.2280. Thus, it can be assumed that the currency pair confirmed the formation of the wave a, c, a, b, (C), in the form of a full five-wave structure, whose calculated targets are located up to the level of the 22nd figure. At the same time, the prevailing wave pattern allows the currency pair to designate the beginning of the future corrective wave b, c, a, B, (C), practically from the minimum of the past day.

The objectives for building a downward wave:

1.2250 - 1.2200

The objectives for building an upward wave:

1.2461 - 76.4% of Fibonacci

1.2530 - 100.0% of Fibonacci

General conclusions and trading recommendations:

The wave counting on the instrument continues to become more complicated and tangled. The lowering of quotations may continue within wave a, c, a, b, (C) with targets located between the levels of 1.2250 and 1.2200. The assumed wave b, a, B, (C) has completed its construction. After the completion of the construction of this wave, it is expected to withdraw quotes from the reached minimum within the wave b, c, a, B, (C).