FX.co ★ Wave analysis of EUR / USD for February 13. Expect another downward impulse to complete wave 3

Wave counting analysis:

On Tuesday, February 12, trading ended for EUR / USD by 50 bp increase. Thus, the instrument inside the intended wave 3 clearly shows the five-wave structure of the waves. If this is true, then there should be another final impulse wave 5, 3. The unsuccessful attempt to break through the 76.4% Fibonacci level implies that the instrument is ready to build this wave. The breakthrough of the 76.4% level will indicate the pair's readiness for an increase and will suggest the completion of wave 3, which in this case can be interpreted as a wave with inside the three wave structures.

Sales targets:

1.1228 - 127.0% Fibonacci

1.1215 - 0.0% Fibonacci

Shopping goals:

1.1444 - 38.2% Fibonacci

1.1514 - 50.0% Fibonacci

General conclusions and trading recommendations:

The pair continues to build a downward wave of 3. Thus, now I still recommend selling EUR / USD, but be more cautious, with targets around 1.1228 and 1.1215, which corresponds to 127.2% and 0, 0% Fibonacci. I expect the construction of wave 5, 3, which may turn out to be small and only a few bp. It may go below the minimum of wave 5, 3, or even shorten.