Wave counting analysis:
On Tuesday, January 15, trading the EUR/USD pair ended with a decrease of 60 basis points. Thus, the current uptrend of the trend beginning on November 12, may take a more ambiguous and complex look, and although the whole wave may take the form of a diagonal triangle, such a strong instrument decline and support for this fall with news can lead to a continuation of the fall and transformation of the wave pattern. An important level is now the level of 23.6% on the small Fibonacci grid. Above it remain the chances of building a new rising wave of 5 in s.
Sales targets:
1.1345 - 38.2% Fibonacci
1.1315 - 23.6% Fibonacci
Shopping goals:
1.1599 - 161.8% Fibonacci
1.1677 - 200.0% Fibonacci
General conclusions and trading recommendations:
The pair turned out building wave 4 in c, which turns out pretty deep. Since the wave does not look complete but can take a diagonal view, I expect to resume raising the tool and from current levels or slightly lower. I recommend buying a pair with targets located near the estimated marks of 1.1599 and 1.1677. Protective orders suggest placing below the level of 23.6% Fibonacci.
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