05.02.2021 15:18 Forex analysis: EUR/USD analysis February 5. Markets ready for a new sale of the euro

Forex Traders Reviews Wave Analysis

05.02.202115:18 Analyst Reviews Forex: EUR/USD Analysis February 5. Markets are ready for a new sale of the euro

Materiality until 13:00 2021-02-07 UTC-00

The wave marking the 4-hour chart now looks quite convincing and “beautiful”. Up part of the trend is complete, its internal structure of waves is quite accurate. Therefore, it is very likely that I can conclude that it will be completed. In recent weeks, the tool has been actively involved in building a new downward trend, which also has a very accurate and “beautiful” view. In fact, in wave analysis, there are not often sets of waves that look like in a manual. There are various repair formations that in practice bring little benefit, because it is extremely difficult to trade on them. Moreover, almost any of these wave structures can develop into a more complex or longer wave structure at any time. Therefore, I undertake to look for pulsed five-wave or corrective three-wave structures, which are the most understandable and clear for all entrepreneurs.

Builds a structure that leaves virtually no questions unanswered. After the build is complete, I expect to build a minimum 3-wave corrective structure. And two waves out of three have already been completed. Inside the third wave, waves 1 and 2 are visible, and at the moment a 3-on-3 wave is being built, suggesting that the construction of the downward trend is not yet complete. The Fibonacci level grid, which is stretched to a minimum and the maximum global wave 5, shows that the tool has now been changed by 50%. But since the downward set of waves does not yet look complete, the fall in quotations may continue the targets near the estimated mark of 1.1888, which corresponds to 61.8% on this Fibonacci network. At the end of the third wave, the entire downward trend may end completely and take the form of a-b-c. In this case, it is highly likely that a new upward trend will begin to build, which will mean a new weakening of the US currency. $101,001 in 2021 feels much better than in 2020. However, I am convinced that this increase is only due to the for technical reasons. In other words, markets are not buying the dollar because they think the US economy is now strong and thriving. The current decline in tool quotes is just a pullback from the main trend. Of course I would like to make a mistake, but so far I have to draw other conclusions I cannot. The last important report on inflation in the European Union markets was not noticed at all, although the euro had a good chance of rising after that. But no. This has not happened, suggesting that markets are not interested in reports and statistics. If so, pay more attention to the markings of the waves. According to it, the decline in quotations continues, respectively, I recommend to continue selling the instrument with objectives located at least around the mark 1,1888. A successful attempt to break the 50.0% level indicates the willingness of the markets to continue selling steam. You can use the “down” macD reversal as a signal to sell new tools. In the GBP/USD article, I will take a closer look at the background of the news and its impact on both main tools. The

Wave Markup upward trend is still completely completed five Wave View. The trend area that arises after it also does not raise any questions yet. If the current wave marking is correct, the fall in quotations will continue with targets of about 19 and 18 digits. However, there is still the possibility of a new upward trend. This market analysis is informative and is not a transaction guide.

Estimate,Analyst: Alexander Dniproskygk InstaForex © 2007-2021