We have had very complex correction not the simple anticipated. This correction appear complete assuming we hold above 1.08350
Here are the technical summary:
1. Since May high, we have of 3-3-5 construction with wave (c) being .
2. We have retraced 61.8% Fib of the entire rise of the March low.
3. We have potential divergence.
4. In the proximity of the previous .
5. If the Fin time symmetry holds then the anticipated wave (c) low due in this time window.
Invalidation level to note is 1.08350
If the above plays out then the upside is anticipated to be either large wave 3 or C. would give us approx target of around 1.18 or higher. I will publish an updated chart as necessary with move detail in due course.
Warning: This is my interpretation of price action using TA approach that I consider helps me most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views.
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I get hung up on that initial move lower from June 18-28 carving out as a 5 in lieu of a 3 wave needed for the wave 1 of a diagonal. It still may be possible with double zig-zags but that would likely drive it lower and closer to 1.07 or possibly 1.06. With SSI sentiment shifting towards neutral at 52% of traders are short, the EURUSD is acting more like it wants to get more shorts sucked in.
Nice analysis...take care.