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 3. The pair is adjusted, maintaining the upside potential

September 4, 2018 Analytics

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Analysis of wave counting:

During the trades on Friday, the currency pair EUR / USD lost about 70 percentage points and, in this way, went over to the construction of wave 2, a. If the current wave counting is correct, then the decline in quotations will continue with targets located near the levels of 38.2% and 50.0% on the Fibonacci grid, constructed in wave 1, a. After the completion of the construction of this wave, it is expected to resume the increase in quotations within the wave 3, a, and with the goals that are above the 17 figure. An unsuccessful attempt to break the mark of 1.1567 will indicate the readiness of the pair to complete the corrective wave.

The objectives for the option with sales:

1.1567 – 38.2% of Fibonacci

1.1517 – 50.0% of Fibonacci

The objectives for the option with purchases:

1.1747 – 100.0% of Fibonacci

1.1868 – 127.2% of Fibonacci

General conclusions and trading recommendations:

The pair is in the stage of building wave 2, a. Thus, I recommend today to monitor the marks of 1.1567 and 1.1517, which corresponds to 38.2% and 50.0% of Fibonacci, near which the construction of this wave may be completed. An unsuccessful attempt to break one of these marks may mean the pair’s transition to the construction of wave 3, a. And in this case, I recommend that you resume the pair purchases with targets above 17 figures.

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

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