FX.co ★ Wave analysis of EUR/USD for June 1. The euro is in the lead, the dollar is in the shadow

Analysis of wave counting:

Trades in the EUR/USD pair on Thursday ended in growth by 40 points. Thus, the trading instrument continues to build the anticipated first wave of the new upward trend part of the future wave 3. If this assumption is true, then in the next week the quotations increase with the first goal, located near the 18th figure, will continue. At the same time, the currency pair has no visible obstacles to an even more complicated wave 5, in c, in 2. However, this development of events will be possible only below the minimum of May 29.

Targets for selling:

1.1542 - 261.8% by Fibonacci

1.1438 - 323.6% by Fibonacci

Targets for buying:

1.1835 - 200.0% of the Fibonacci of the highest order

General conclusions and trading recommendations:

The EUR/USD currency pair supposedly completed the construction of wave 5, in with. So, now it is recommended that you continue to build small buying in terms of building a wave 1, at 1, at 3, with targets located near the estimated mark of 1,1835, which corresponds to 200.0% of Fibonacci. It is recommended to increase buying after the end of the wave 2, in 1, in the future 3. It is not recommended going back to sales before the break of the minimum from May 29, which will lead to an even more complicated wave 5, in c.