empty
 
 
15.03.2019 11:44 AM
Wave analysis of EUR / USD pair on March 15. The beginning of wave b depends on the EU inflation report

Wave counting analysis:

This image is no longer relevant

On Thursday, March 14, trading EUR/USD pair ended by 30 bp lower. Hence, wave A can be completed since the attempt to break through the level of 61.8% on the small Fibonacci grid was unsuccessful. However, now that the pair is making a second attempt to break through this level. Perhaps, it will be successful which will allow us to continue building the 'wave a' with targets located near the level of 76.4%. If the second attempt to break through fails, the pair will proceed to the formation of a descending wave b in the composition of the new upward trend section. Today, I recommend traders not to miss the report on inflation in the eurozone.

Sales targets:

1.1269 - 38.2% Fibonacci (small grid)

1.1234 - 23.6% Fibonacci (small grid)

Purchases targets:

1.1326 - 61.8% Fibonacci

1.1362 - 76.4% Fibonacci

General conclusions and trading recommendations:

The pair will probably continue to build the first wave of the uptrend trend. Currently, I recommend waiting for the breakout of the mark of 1.1326 and buying the pair with targets located near the level of 1.1362. Also, I suggest opening purchases near the minima of wave b, which can begin its construction if the 1.1326 level stands.

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