FX.co ★ Wave analysis of EUR / USD for June 19. Euro still hopes for growth

Analysis of wave counting:

As a result of the previous trading day, the EUR / USD currency pair added about 60 percentage points from the minimum of the day. Thus, the future wave 3, 1, 3, takes a more convincing appearance, but still the upswing structure of waves is unstable, mainly due to the lack of fundamental factors for the growth of the European currency. Thus, do not lose sight of the option in which the pair breaks at least on May 29 and return to building a downward set of waves with a strong complication of the global wave 2. The main scenario, however, still involves raising quotations with a minimum goal of about 20 figures .

The objectives for the option with sales:

1.1439 - 323.6% of the Fibonacci of the highest order

1.1121 - 423.6% of the Fibonacci of the highest order

The objectives for the option with purchases:

1.1958 - 161.8% of the Fibonacci of the highest order

1.2070 - 127.2% of the Fibonacci of the highest order

General conclusions and trading recommendations:

The currency pair EUR / USD, presumably, completed the construction of wave 2, 1, 3. If this assumption is correct, then the increase in quotations will continue with the targets being about 1.1958 and 1.2070, which is equivalent to 161.8% and 127.2% of Fibonacci. Proceeding from what, I recommend to continue forming purchases by pair. The break of the minimum of May 29 will lead to the complication of the wave 5, c, 2 and the entire descending section of the trend. In this case, I recommend resuming sales with targets of 1.1439 and 1.1121.