Wave analysis of EUR / USD for January 22. Euro gradually slipping down
January 22, 2019 10:23 am
Wave counting analysis:
On Monday, January 21, bidding ended for the pair EUR / USD by 3 bp, however, the decline in quotations has already resumed within the expected wave 4, c, which takes a very long look. This may lead to the need to make adjustments to current wave marking. A tool reduction below the minimum of January 3 will mean a willingness to build a descending trend segment, which can be quite lengthy. Is the Euro-currency ready for such kind of fall in terms of the news background?
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 remains in the construction stage of the proposed wave 4, in s. However, a sluggish tool reduction can lead to an adjustment to the current wave marking. Thus, now I recommend not to open new purchases, since the probability of complication of the wave pattern is great. The news background is now missing, which also does not add clarity to the current picture.
The material has been provided by InstaForex Company – www.instaforex.com
Wave counting analysis:
On Monday, January 21, bidding ended for the pair EUR / USD by 3 bp, however, the decline in quotations has already resumed within the expected wave 4, c, which takes a very long look. This may lead to the need to make adjustments to current wave marking. A tool reduction below the minimum of January 3 will mean a willingness to build a descending trend segment, which can be quite lengthy. Is the Euro-currency ready for such kind of fall in terms of the news background?
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 remains in the construction stage of the proposed wave 4, in s. However, a sluggish tool reduction can lead to an adjustment to the current wave marking. Thus, now I recommend not to open new purchases, since the probability of complication of the wave pattern is great. The news background is now missing, which also does not add clarity to the current picture.
The material has been provided by InstaForex Company – www.instaforex.com
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