Analysis of wave counting:
During the trades on Wednesday, the EUR / USD currency pair added another 80 percentage points and continued the construction of the proposed wave 1, 1, 3. If this assumption is correct, then the increase in quotations will continue to the mark of 1.1835. An unsuccessful attempt to break the 1.1809 mark, which equates to 61.8% of the Fibonacci constructed in the size of wave 5, c, 2, can activate the execution of an alternative variant, which involves the complication of wave 5. This option allows considering the current rise as a wave 2, 5, with the future complication of the wave c, 2.
The objectives for the option with sales:
1.1542 - 261.8% of Fibonacci
1.1438 - 323.6% of Fibonacci
The objectives for the option with purchases:
1.1752 - 50.0% of Fibonacci
1.1809 - 61.8% of Fibonacci
1.1835 - 200.0% of the Fibonacci of the highest order
General conclusions and trading recommendations:
The EUR / USD currency pair continues to build the proposed wave 1, 1. On this basis, it is recommended to continue the formation of purchases with targets located near the calculated marks of 1.1809 and 1.1835, which equals to 61.8% and 200.0% of Fibonacci. An unsuccessful attempt to break the 1.1809 mark may be a signal that the instrument is ready to build a downward wave, possibly wave 2, 1, 3.