Wave counting analysis:
On Monday, December 31, trading ended for EUR / USD by another 10 bp increase. However, with the opening of the markets this morning, the instrument added a few dozen bp and made a breakout level of 100.0%. Thus, the proposed wave with complicates and its internal wave structure can take on a non-standard five-wave form. If this is true, then in the first days of the new year, the increase will continue with targets located near the levels of 127.2% and 161.8% on the small Fibonacci grid.
1.1215 - 0.0% Fibonacci
1.1528 - 127.2% Fibonacci
1.1599 - 161.8% Fibonacci
General conclusions and trading recommendations:
The pair resumed building a wave with and the whole part of the trend, taking its beginning on November 12. Thus, now I recommend buying in small volumes (due to the ambiguity of the current wave marking) with targets located near the marks of 1.1528 and 1.1599. An unsuccessful attempt to break through one of these marks may lead to another attempt to complete the construction of the upward trend section. I draw your attention to the fact that there is no news background, but as soon as it starts to appear, the mood in the market may change.
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