Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Wave analysis of EUR / USD for September 21. The pair confirmed the construction of the third wave

September 22, 2018 Analytics

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Analysis of wave counting:

During the trades on Thursday, the currency pair EUR / USD added about 100 percentage points and thus confirmed the transition of the pair to the stage of constructing the upward wave 3, a. If this is the case, then the increase in quotes will continue with the targets located near the levels of 127.2% and 161.8% of Fibonacci, constructed in wave 2, a. An unsuccessful attempt to break through the 127.2% mark may lead to the withdrawal of quotations from the peaks reached, but the current wave counting implies a stronger rise in quotations.

The objectives for the option with sales:

1.1525 – 0.0% of Fibonacci retracement

The objectives for the option with purchases:

1,1791 – 127.2% of Fibonacci retracement

1.1844 – 161.8% of Fibonacci

General conclusions and trading recommendations:

The currency pair remains in the stage of constructing wave 3, a. Thus, I recommend buying a pair with targets near the calculated mark of 1.1864, not missing the thought that from the level of 127.2%, there may be a retreat. If there is no release, then the increase in quotations will continue. I do not recommend selling the pair, as there are no prerequisites for completing the ascending trend segment.

The material has been provided by InstaForex Company – www.instaforex.com

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