Analysis of wave counting:

In general, it is expected that in the course of yesterday's trading, the currency pair EUR / USD continued to develop a downward movement and was able to work out the mark of 1.1840 in the second half of the day. It can be assumed that the currency pair remained in the final stage of the formation of the wave 5, c, c, B, (C). If this is so, then, as already noted, testing the level of the 18th figure can lead to a price turn against the dollar, which in turn will mark the beginning of the future wave d, B, (C) or even the resumption of growth of quotations within the main raising trend.

The objectives for building a downward wave:

1.1807 - 685.4% of Fibonacci

The objectives for building an upward wave:

1.2100 - 1.2200

General conclusions and trading recommendations:

The wave counting on the instrument involves the construction of a descending set of waves. Now, it is expected that the quotes will continue to decline within the limits of wave 5, c, c, B, (C) with targets near the calculated mark of 1.1807, which corresponds to 685.4% of Fibonacci. The downward corridor preserves the prospects of reducing the instrument, the breakthrough of its upper forming line will warn about the readiness of the instrument to build the upward wave.