EURUSD IS CORRECTING>>>> Bearish momentum is to be expected.
I shared my analysis on this yesterday in the inked post. Once the market complete a 5 wave cycle it's only natural for us to expect the ABC correction, and currently we are getting just that. Wave B took the shape of a triangle patten and wave C is developing. We are likely to see a 5 wave impulse move here, but lets not get ahead of ourselves.
I have labeled the 0.382, the 0.5 and the 0.618 levels as potential zones for wave 2 to end, but I wouldn't be surprised if we retest the lows of the highlighted zones.
As always, let's see how this plays out, and I would love to hear your thoughts and feedback in the comments.
Signed,
Samore
I have labeled the 0.382, the 0.5 and the 0.618 levels as potential zones for wave 2 to end, but I wouldn't be surprised if we retest the lows of the highlighted zones.
As always, let's see how this plays out, and I would love to hear your thoughts and feedback in the comments.
Signed,
Samore
