Wave analysis of EUR / USD for October 24. No change in wave counting
October 24, 2018 1:22 pm
Wave counting analysis:
In the course of trading on Tuesday, the EUR / USD currency pair gained just 10 basis points. Thus, the current wave counting has not changed. A further decline in the pair is expected as part of the proposed wave 3, c, with targets located under the 14 figure. Estimated wave 2, c, is completed. There are no grounds for clarifying the current wave pattern. In the past two days, the news background was absent and had no effect on the wave marking.
The objectives for the option with sales:
1.1327 – 127.2% of Fibonacci
1.1194 – 161.8% of Fibonacci
The objectives for the option with purchases:
1.1578 – 61.8% of Fibonacci
General conclusions and trading recommendations:
The pair allegedly completed the construction of wave 2, c. Thus, now I recommend to continue selling the pair with targets located near the estimated mark of 1.1327, which equates to 127.2% Fibonacci. For greater confidence in the implementation of the working version, involving the construction of a downtrend trend, you can wait for a successful attempt to break the 1.1431 mark, which corresponds to 100.0% Fibonacci.
The material has been provided by InstaForex Company – www.instaforex.com
Wave counting analysis:
In the course of trading on Tuesday, the EUR / USD currency pair gained just 10 basis points. Thus, the current wave counting has not changed. A further decline in the pair is expected as part of the proposed wave 3, c, with targets located under the 14 figure. Estimated wave 2, c, is completed. There are no grounds for clarifying the current wave pattern. In the past two days, the news background was absent and had no effect on the wave marking.
The objectives for the option with sales:
1.1327 – 127.2% of Fibonacci
1.1194 – 161.8% of Fibonacci
The objectives for the option with purchases:
1.1578 – 61.8% of Fibonacci
General conclusions and trading recommendations:
The pair allegedly completed the construction of wave 2, c. Thus, now I recommend to continue selling the pair with targets located near the estimated mark of 1.1327, which equates to 127.2% Fibonacci. For greater confidence in the implementation of the working version, involving the construction of a downtrend trend, you can wait for a successful attempt to break the 1.1431 mark, which corresponds to 100.0% Fibonacci.
The material has been provided by InstaForex Company – www.instaforex.com
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