FX.co ★ Wave analysis of EUR / USD for July 4. Expectations for growth in the Euro-currency are justified

Analysis of wave counting:

As a result of the previous trading day, the currency pair EUR / USD added about 20 percentage points. And though it is a little, nevertheless, the pair remains within the limits of construction of a prospective wave 3, c, 4. Thus, wave counting does not change, and we continue to expect growth of euro. Wave c, 4 can take the form of a 5-wave structure, but it should be remembered that, according to current wave counting, this is still a corrective wave with targets located near the calculated mark of 1.1856. In the global plan, a resumption of the decline in quotations is expected in the framework of the construction of wave 5 of the downward trend section.

The objectives for the option with sales:

1.1440 - 323.6% of the Fibonacci of the highest order

1.1118 - 423.6% of Fibonacci

The objectives for the option with purchases:

1.1866 - 100.0% of Fibonacci

1.2072 - 127.2% of Fibonacci

General conclusions and trading recommendations:

The currency pair EUR / USD continues to rise within wave 3, c, 4. Thus, I recommend remaining in purchases with targets located near the calculated marks of 1.1856 and 1.2072, which corresponds to 100.0% and 127.2% of Fibonacci. I recommend returning to sales not before a successful attempt to break the minimum of the proposed wave b. In this case, the pair will most likely proceed to build the wave 5 of the trend-bearish section with the targets that are about 12 and 11 figures.