The corrective structure on EURUSD is becoming complex! This is expected as the currency used to mimic one another.
GOLD and SILVER are moving lower in the short term so EURUSD should at least wait for them before heading higher.
The retracement seems to be unfolding as a double zigzag Elliot Wave pattern. This gives us the opportunity for a short term bearish move.
If this count is correct, price should resume the rally once the short-term move is completed within the blue box area, comprising of the 78.6% Fibonacci of the impulse, and a zone where wave "y" will equal wave "x".
What's your take on EURUSD? Let me hear from you!
GOLD and SILVER are moving lower in the short term so EURUSD should at least wait for them before heading higher.
The retracement seems to be unfolding as a double zigzag Elliot Wave pattern. This gives us the opportunity for a short term bearish move.
If this count is correct, price should resume the rally once the short-term move is completed within the blue box area, comprising of the 78.6% Fibonacci of the impulse, and a zone where wave "y" will equal wave "x".
What's your take on EURUSD? Let me hear from you!
