chessnut

EURUSD EW analysys, WXY wave IV a convincing and valid count.

Short
FX:EURUSD   Euro / U.S. Dollar
17
EURUSD has had a big rally from lows. Beginning with an abc it was corrective from the start, implying wave IV and an unresolved wave V. a clear termination of a 3-3-5 correction failed to produce a five wave structure, instead producing the X of what is so far a complex double zigzag. Set to top characteristically in the larger wave iv decline this thrust from a terminal triangle wave b should produce a quality short opportunity no matter what the larger count. However, this larger count supports holding a short to near parity before bottoming.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.