FX.co ★ Wave analysis of the EUR / USD currency pair for March 5, 2018

Analysis of wave counting:

During the Friday's trading, the currency pair EUR / USD continued the development of the upward movement that began on the eve, adding more than 70 percentage points in price and it was confidently entrenched above the level of the 23rd figure at the end of the day. At the same time, it can be assumed that the currency pair was in the stage of formation of the wave b, B, (C), which by the close of the American session did not yet seem complete. At the same time, under the current conditions, the currency pair still retains the potential for growth of quotations to the level of 1.2500, as well as the formation of the wave 4, 5, A, (C) as a complex and extended in time correctional triangle.

The objectives for building a downward wave:

1.2200 - 1.2100

The objectives for building an upward wave:

1.2537 - 261.8% of Fibonacci

1.2600

General conclusions and trading recommendations:

The wave counting on the instrument is complicated and confusing. The increase in quotations may continue within the expected wave b, B, (C) with targets that are about 25 figures, but current wave counting also allows the resumption of a decline in the wave a, B, (C) or more complicated wave 4, 5, A, (C) with goals below 22 figures.