empty
 
 
24.04.2018 12:05 AM
Wave analysis of the EUR / USD currency pair. Weekly review

This image is no longer relevant

Analysis of wave counting:

On Thursday, having failed to overcome the level of the 24th figure, the currency pair EUR / USD began a downward movement, having lost about 150 percentage points in price and completed the Friday session with working off the mark of 1.2250. At the same time, there were grounds for speculating that as a result of this decline, the currency pair moved to the final stage of the formation of the internal wave structure of the wave c, a, B, (C). If this is the case, the currency pair may continue the resumed decline of quotations to the level of 1.2200, or even to 1.2100.

The objectives for the option with an upward wave:

1.2400

The objectives for the option with a downward wave:

1.2200 - 1.2100

1.2032 - 23.6% of Fibonacci

General conclusions and trading recommendations:

The tool supposedly completed the construction of the upward trend section. The wave b, a, B, (C) is also supposedly completed. If this is the case, then the reduction of quotations will continue with the targets located about 22 and 21 figures and about the estimated mark of 1.2032, which corresponds to 23.6% of Fibonacci, within the limits of wave c, a, B, (C).

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