EURUSD continues its downward trend.
I intend the current findings as a continuation of my analysis. The previous analysis seems to have worked accurately. It was based on wave sequence and fractal theory. I would basically continue to rely on this. My assumption is that EURUSD will produce two almost identical wave movements. The basis for this statement is the underlying ATR changes. I will refrain from publishing a longer calculation, from the changes in the ATR data it can be concluded that an accumulation range is currently being built. This is indicated by the yellow square. It can be seen that the changes in the underlying ATR parameters of the two yellow squares are exactly similar. I therefore assume that the wave sequence being built up in the accumulation region will also be of similar size. From this I conclude that a similar decreasing size wave sequence will emerge from the accumulation band (red lines). The two accumulating wave sequences(yellow squares ) and the corresponding downward breaking downward breaking downward wave sequence(red lines) can now form a 1:1 fractal. In case the theory comes true, further significant EURUSD downward movement is expected. Target price : 1.14772
