Some interesting price action overnight.
The wave structure of the USD vs the Euro is slightly different as it turns out.
The whole move up since the start of May looks like a leading diagonal.
As opposed to Euro's 1-2 1-2 combination since the start of May.
Leading diagonals often have deep retracements compared to regular impulsive waves.
The Euro has not mirrored the US dollar in this instance because it is operating on a different wave structure in this moment even though they usually move similarly.
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The wave structure of the USD vs the Euro is slightly different as it turns out.
The whole move up since the start of May looks like a leading diagonal.
As opposed to Euro's 1-2 1-2 combination since the start of May.
Leading diagonals often have deep retracements compared to regular impulsive waves.
The Euro has not mirrored the US dollar in this instance because it is operating on a different wave structure in this moment even though they usually move similarly.
Please LIKE and FOLLOW to get notification of updates and future posts.
Comment:
A nice gap up in the US Dollar at the open, let's where this goes.
