Despite the decline in EURUSD in recent days the ABC retracement pattern is still valid.
I believe we have bottomed and we will start to see upside acceleration from here.
Breach of the trend defining 1.1550 is key of course
I believe we have bottomed and we will start to see upside acceleration from here.
Breach of the trend defining 1.1550 is key of course
Comment:
The final Wave C rally progressing well, maybe has topped out in wave 1, expect ABC retracement to 1.1500 before turning up for 1.1850.
Comment:
Have to acknowledge that an alternative count where we have started a new impulse move to 1.13 and beyond will have a near identical count for the moment
i.e. 5 waves down to the 1.1430 low followed by and ABC rally, of which we are B.
The counts will only differ when we break over 1.1850, though the rally will surprise those expecting a rapid decline.
i.e. 5 waves down to the 1.1430 low followed by and ABC rally, of which we are B.
The counts will only differ when we break over 1.1850, though the rally will surprise those expecting a rapid decline.