Wave analysis of the EUR / USD currency pair for October 9, 2017

Wave analysis of the EUR / USD currency pair for October 9, 2017

Analysis of wave counting: Not reaching the estimated target near the mark of 1.1665 about 5 points, in the second half of Friday’s trading, the pair EUR / USD began to rise against the dollar and retreated to the level of 1.1740 by the close of the American session. In this case, as a result of such an upward movement, the wave c, c, a, (C) assumed a completely completed form. If this is so, the 5th wave, in this c, c, a, (C) will not further complicate its internal wave structure, then already indicated the growth of quotations may be the beginning of the future wave b, (C), the calculated goals of which extend up to the level of the 19th figure.

The objectives for building a downward wave:
1.1664 – 200.0% of Fibonacci 1.1600
Objectives for the construction of an upward wave: 1.1788 – 127.2% of Fibonacci 1.1850 – 1.1900

General conclusions and trading recommendations:
The construction continues a new downward trend segment. Now, it is possible to continue the decline in quotes within the wave c, c, a, (C) with targets located near the estimated mark of 1.1664, which corresponds to 200.0% of Fibonacci and lower about 16 figures. Within the upward wave b, (C), a departure from the achieved lows is possible with the objectives of about 19 figures.

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