Wave counting analysis:
On Tuesday, April 9, the trading ended for the pair EUR / USD with an increase of several base points.Thus, the wave pattern for the past day has not changed and still involves the construction of an upward wave c. However, a meeting of the ECB and the announcement of its results will be held now. In addition, a press conference will also be held. And of course, the market will receive a lot of important information on the basis of which trading decisions will be made. To continue the construction of the wave c, it is necessary that the information from the ECB is not openly "dovish". Also, today, we should pay attention to the inflation in the United States. The high value of the consumer price index for March will be in the hands of the dollar, not the euro.
Sales targets:
1.1177 - 100.0% Fibonacci
Purchase goals:
1.1448 - 0.0% Fibonacci
General conclusions and trading recommendations:
The pair supposedly completed the construction of wave b and proceeded to the construction of wave c. Now, I recommend buying a pair with targets near the level of 1.1455, which corresponds to the maximum of wave a , based on the construction of wave c. Purchases should not be large in volume, especially today, since a large amount of important news can easily lead to a decrease in the pair.
The material has been provided by InstaForex Company - www.instaforex.com