FX:EURUSD   Euro Fx/U.S. Dollar
306 1 3
Monthly EUR/USD             has continued to look like a correction wave. Price has hit resistance at downtrend line as well as Fib retracement. (w), (x), (y) formation should be finished ending wave 2 of larger Y correction. Wave 3 of larger Y should increase in momentum in next several months. I have turned slightly more Bearish and await momentum . If EUR/USD             continues to consolidate we could see one more month of upward movement. Fundamentally, European numbers have improved slightly, however underlying unemployment numbers as well a overall GDP numbers remain sluggish at best and the belief that ECB President Draghi might have to implement more measures to help halt Euro             upward momentum could be in the near future. Monthly chart I remain Neutral with slightly more Bearish steps.
3 years ago
I think so
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