You are here: Home > articles > Forex > Wave analysis of EUR / USD for October 26. Work option continues to be valid
Wave analysis of EUR / USD for October 26. Work option continues to be valid
October 26, 2018 5:21 pmVideo
Latest News
- Trading Signals for EUR/USD for May 3-5, 2024: sell below 1.0803 (overbought – 5/8 Murray) May 3, 2024
- Trading Signals for GOLD for May 3-5, 2024: sell below $2,320 or below $2,300 (21 SMA – 200 EMA) May 3, 2024
- Technical Analysis – GBPUSD advances above descending trendline May 3, 2024
- USD experiences day X May 3, 2024
- Bitcoin licks wounds as Fed comes on the rescue – Crypto News May 3, 2024
- GBP/USD: trading plan for the US session on May 3rd (analysis of morning deals). The pound is preparing to get out of the May 3, 2024
- EUR and GBP may drop May 3, 2024
- EUR/USD: trading plan for the US session on May 3rd (analysis of morning deals). US data will be the key moment of the week May 3, 2024
- USD/JPY: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- GBP/USD: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- Video market update for May 03, 2024 May 3, 2024
- EUR/USD: Simple trading tips for novice traders on May 3rd (US session) May 3, 2024
- Could the BoE adopt a more dovish stance on Thursday? – Preview May 3, 2024
- EUR/USD. May 3rd. Bulls don’t give up without a fight May 3, 2024
- GBP/USD. May 3rd. Bears are counting on a strong US labor market May 3, 2024
- Market Comment – Stocks enjoy Fed-induced bounce as dollar slips ahead of NFP May 3, 2024
- Weekly Forex Outlook: 03/05/2024 – BoE and RBA decisions headline a calm week May 3, 2024
- Week Ahead – BoE and RBA decisions headline a calm week May 3, 2024
- USD/JPY: trading tips for beginners for European session on May 3 May 3, 2024
- GBP/USD: trading tips for beginners for European session on May 3 May 3, 2024
Wave counting analysis:
In the course of trading on Thursday, the EUR / USD currency pair lost another 20 basis points more and thus remained within the framework of the construction of the supposed wave 3, c. If this is indeed the case, the decline in quotations will continue with targets that are near the level of 127.2% on the Fibonacci grid, built according to the size of the estimated wave b. An unsuccessful attempt to break through the mark of 127.2% can lead to a departure of quotes from the lows reached and even to the completion of the construction of wave 3, c.
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:
1.1522 – 76.4% of Fibonacci
General conclusions and trading recommendations:
The currency pair continues to build wave 3, 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% of Fibonacci. Wave c can take a fairly long view, but an unsuccessful attempt to break through the mark of 1.1327 can lead to the beginning of wave 4 construction.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: