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 24. The rising wave 3 can take an even more complicated form

September 24, 2018 Analytics

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Analysis of wave counting:

During the trades on Friday, the currency pair EUR / USD lost about 30 percentage points. An unsuccessful attempt to break through the 127.2% Fibonacci level led to the withdrawal of quotations from the peaks achieved. However, the proposed wave 3 may become even more complicated and continue its construction. Its internal wave structure is quite complex, so it can take an even more complicated look. An unsuccessful attempt to break the level of 100.0% will help to resume the rise of the pair

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 still remains in the stage of constructing wave 3, a. Thus, I recommend buying a pair on the rebound from the level of 100.0% with targets that are near the estimated marks of 1.1791 and 1.1864. If the attempt to break through the level of 100.0% will be successful, the decline will continue, perhaps even within the downward correctional wave, presumably 4, a.

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

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