Wave counting analysis:
In the course of trading on Thursday, the EUR / USD pair added about 70 bp more. Thus, a successful attempt to break through the level of 38.2% indicates that the pair is ready to rise. The wave, although it took a rather complex and non-standard form, continues its construction. A successful attempt to break through the level of 100.0% will lead to its lengthening. An unsuccessful attempt of a breakthrough may lead to the completion of a correctional ascending structure starting on November 12.
1.1215 - 0.0% Fibonacci
1.1471 - 100.0% Fibonacci
1.1528 - 127.2% Fibonacci
General conclusions and trading recommendations:
The pair remains within the framework of building an upward wave with. An unsuccessful attempt to break 1.1471 may lead to the completion of the construction of this wave. Successful - to further increase, and in this variant I recommend to continue small purchases of the instrument with targets located around 1.1528, which corresponds to 127.2% Fibonacci.
The material has been provided by InstaForex Company - www.instaforex.com