Wave analysis of EUR / USD for June 6. Alternative for the development of events
June 6, 2018 9:21 pm
Analysis of wave counting:
During the trades on Tuesday, the currency pair EUR / USD, adding about 30 percentage points, continued attempts to form the first waves of the new upward trend section as part of the future wave 3. At the same time, an alternative variant appeared, providing for the complication of wave 5, c, 2. An unsuccessful attempt to break the 50.0% Fibonacci mark by the size of wave 5 can push the quotes down. In this case, the current wave 5 can be considered as wave 1, 5, c, 2, and the pair can resume the construction of the downtrend section of the trend and further complicate the wave 2. In any case, in the region between the levels of 1.1752 and 1.1835, I expect the completion of an upward wave.
The objectives for the option with sales:
1.1542 – 261.8% of Fibonacci
1.1438 – 323.6% of Fibonacci
The objectives for the option with purchases:
1.1752 – 50.0% of Fibonacci
1.1809 – 61.8% of Fibonacci
1.1835 – 200.0% of the Fibonacci of the highest order
General conclusions and trading recommendations:
The EUR / USD currency pair continues to build the proposed wave 1, 1. On this basis, it is recommended to continue the cautious formation of purchases with targets located between the levels of 1.1752 and 1.1835, which equates to 50.0% and 200.0% of Fibonacci. I recommend returning to sales after the confirmation of the complication of wave 5, c, 2. A failed attempt to break the mark of 1.1752 may be the first signal about the tool’s readiness to decline.
The material has been provided by InstaForex Company – www.instaforex.com
Analysis of wave counting:
During the trades on Tuesday, the currency pair EUR / USD, adding about 30 percentage points, continued attempts to form the first waves of the new upward trend section as part of the future wave 3. At the same time, an alternative variant appeared, providing for the complication of wave 5, c, 2. An unsuccessful attempt to break the 50.0% Fibonacci mark by the size of wave 5 can push the quotes down. In this case, the current wave 5 can be considered as wave 1, 5, c, 2, and the pair can resume the construction of the downtrend section of the trend and further complicate the wave 2. In any case, in the region between the levels of 1.1752 and 1.1835, I expect the completion of an upward wave.
The objectives for the option with sales:
1.1542 – 261.8% of Fibonacci
1.1438 – 323.6% of Fibonacci
The objectives for the option with purchases:
1.1752 – 50.0% of Fibonacci
1.1809 – 61.8% of Fibonacci
1.1835 – 200.0% of the Fibonacci of the highest order
General conclusions and trading recommendations:
The EUR / USD currency pair continues to build the proposed wave 1, 1. On this basis, it is recommended to continue the cautious formation of purchases with targets located between the levels of 1.1752 and 1.1835, which equates to 50.0% and 200.0% of Fibonacci. I recommend returning to sales after the confirmation of the complication of wave 5, c, 2. A failed attempt to break the mark of 1.1752 may be the first signal about the tool’s readiness to decline.
The material has been provided by InstaForex Company – www.instaforex.com
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