Wave counting analysis:
On Thursday, February 28, trading ended with a zero change for the pair EUR / USD. However, during the day, the pair failed its attempt to break through the Fibonacci at 61.8% level. Thus, additional grounds have shown supposedly for the completion of the upward wave, which is now identified as 4. If this is true, then the pair will begin to decline from current positions within the framework of the future downward wave 5 with a minimum target of about 12 figures. The news background for the pair remains neutral. The states did not agree on a nuclear program with the DPRK. Jerome Powell is worried that there may be a large US national debt, and the EU economy is slowing down smoothly.
1.1228 - 0.0% Fibonacci
1.1408 - 61.8% Fibonacci
1.1448 - 76.4% Fibonacci
General conclusions and trading recommendations:
The pair allegedly completed building wave 4 near the Fibonacci level of 61.8%. Thus, I recommend small sales of the pair, based on the construction of a downward wave 5 with targets located near the level of 1.1230, which corresponds to 0.0% Fibonacci and a protective order above the level of 61.8%.The material has been provided by InstaForex Company - www.instaforex.com