Wave counting analysis:
On Thursday, April 11, trading ended for the EUR / USD pair by a 20 bps decline. Of course, such a low market activity did not lead to any changes in the wave pattern. Consequently, presumably from the upward wave, continues its construction with targets located near the 1.1450 mark. The tool is still very hard to raise, because, firstly, the market activity is now weak, and secondly, the news background rarely supports the Eurocurrency. In this regard, there is an option with the complication of the downward trend and the resumption of the decline. However, there are currently no prerequisites and signals for the execution of such an option.
Sales targets:
1.1177 - 100.0% Fibonacci
Purchase goals:
1.1448 - 0.0% Fibonacci
General conclusions and trading recommendations:
The wave presumably continues to build the wave c. Thus, the trading strategy remains the same - It is recommended buying a pair with targets located near the 1.1455 mark, which corresponds to the maximum of wave a, but not on large volumes, as the tool rises with difficulty. Such a weak desire of the market to buy may result in the opposite phenomenon - strong sales.
The material has been provided by InstaForex Company - www.instaforex.com
No comments:
Post a Comment