empty
 
 
24.04.2019 10:32 AM
Wave analysis of EUR / USD for April 24. The news background does not support the euro

This image is no longer relevant

Wave counting analysis:

On Tuesday, April 23, trading ended for EUR / USD by 30 bp lower. Wave 2 (assumed) takes a more complex form, but the current wave marking is still preserved, since there was no exit beyond the minimum of wave b. However, on the one hand, such a depth of wave 2 suggests that the pair is not ready to further increase. On the other hand, if you look at all the previous waves, it becomes clear that the correctional waves are approximately the same size as the impulse waves. Thus, such a depth of wave 2 may still end up with the transition to the construction of an ascending wave 3. Unfortunately, the news background does not provide any support for the euro currency. This is the main factor against the growth of the euro currency.

Sales targets:

1.1177 - 0.0% Fibonacci

Purchase goals:

1.1448 - 100.0% Fibonacci

1.1476 - 76.4% on the highest Fibonacci grid.

General conclusions and trading recommendations:

The pair presumably remains within the framework of the construction of wave c, and its internal wave 2 takes an extended form. Thus, now you can still buy a pair based on the construction of wave 3 with targets located near the estimated levels of 1.1349 and 1.1387, but going out of quotations beyond the minimum of wave b will mean the need to make adjustments to the current wave marking.

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 $1000 more!
    In June we raffle $1000 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