Wave counting analysis:
The trading on Wednesday, April 10, ended with a 15 bp rise for the EUR / USD pair, although there was a tool tug down during the day. Nevertheless, the markets could not drastically change the current wave pattern, and the amplitude of the movement was not so strong, although there was a lot of news yesterday. The most important news are about the inflation in the United States (positive for the dollar), comments by the European Central Bank (ECB) on monetary policy (not in favor of the euro), and the minutes of the Fed meeting (with dove-colored). Therefore, it can be noted that all the news on Wednesday were ambiguous. The ECB and the Fed did not expect any strong statements, and the inflation in America, although accelerated in March, still remains below the target level of 2.0%.
Sales targets:
1.1177 - 100.0% Fibonacci
Purchase goals:
1.1448 - 0.0% Fibonacci
General conclusions and trading recommendations:
The pair presumably continues to build the wave c. The trading strategy remains the same - I recommend buying a pair with targets located near the level of 1.1455, which corresponds to the maximum of wave a, but not large volumes, since the instrument rises, as if reluctantly. Such desire to buy in the market may result in the opposite phenomenon - stronger sales.
The material has been provided by InstaForex Company - www.instaforex.com
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