The Euro has lost strength vs the Dollar and the Yen.
It has arrived the zone which I think could be the next turning level.
On the upside (129) it´s swing trend level and on the downside it´s the fib retracement 61.8% of downgoing fib at 123.
If the price falls even beyond this zone the EW-analysis would be wrong (because 4 can´t be lower than 1).
To confirm this analysis the price of this pair should turn within this zone.
If it does the pair would enter the fifth motive wave heading no new highs (140 - 150).
It has arrived the zone which I think could be the next turning level.
On the upside (129) it´s swing trend level and on the downside it´s the fib retracement 61.8% of downgoing fib at 123.
If the price falls even beyond this zone the EW-analysis would be wrong (because 4 can´t be lower than 1).
To confirm this analysis the price of this pair should turn within this zone.
If it does the pair would enter the fifth motive wave heading no new highs (140 - 150).
Trade active:
We probably see a testing of the upper limit of the symmetrical triangle before breaking through and heading to the red circle.
MACD is neutral but triggered to positive.
RSI also neutral but already on its way up.
So next positions can be:
136 Yen (upper limit) - 140 Yen (fib retracement 61.8%) - 152 Yen (fib retracement 78.6%)