FXPorcoRosso

FXPorcoRosso

Structure on 1D acting as support. Wait for pullback to support at 1.8160 to enter long

FXPorcoRosso

After breaking a structure looking for a pullback to retest previous resistance now turned support

FXPorcoRosso

Pullback most likely complete, expect EUR to rally soon to 1.0900

FXPorcoRosso Updated 

Todays drop although much deeper than expected does not invalidate the count, although TBH it looks problematic. There appears to be 5 waves down from the recent high and makes wave 2 look like an irregular correction. If that is correct the decline finished at 1.1451 today. Any drop below that level will invalidate this count. The market should rally back over 1.1525

FXPorcoRosso Updated 

Added the short term count for the pullback from 1.1610. I think I small tick down to 1.1520-1.1525 to complete the minor A leg, rally up to 1.1570 then the c leg down to 1.1500. That would complete wave2 and would look to turn higher and accelerate. So at least early part of week will be quiet and stuck between 1.1500 and 1.1600. Hope for a test of 1.1500 to go...

FXPorcoRosso

Have seen nothing that has changed the count. The current small pullback from the 1.16 high can unfold in several ways. Hard to say when it will end, but seem like a good opportunity to get long, ultimate SL would be the 1.1430's but around 1.1500 is more likely the bottom. Would need to look at the very short term charts to spot the turning point.

FXPorcoRosso Updated 

Despite the decline in EURUSD in recent days the ABC retracement pattern is still valid. I believe we have bottomed and we will start to see upside acceleration from here. Breach of the trend defining 1.1550 is key of course

FXPorcoRosso Updated 

EUR may have bottomed yesterday at 1.15 to end the B leg and has started a 5 wave C leg to 1.19. An alternative count allows for one more minor leg down into the 1.1450's before completing B, end result is the same a move up to 1.19 is imminent.

FXPorcoRosso

EUR may have bottomed yesterday at 1.15 and has started a 5 wave C wave to 1.19. Alternative count allows for one minor leg down to the 1.1450's before starting C

FXPorcoRosso

EUR Bottomed in B yesterday and started C a 5 wave up to 1.19

FXPorcoRosso

EURUSD Retracement from 1.13 to 1.19. I think we bottomed in B yesterday and have started a 5 wave advance for wave C to reach 1.19