EverythingForex

ANALYSIS: EURUSD - Another Way To See It

FX:EURUSD   Euro Fx/U.S. Dollar
867 6 20
So the idea before of a large triangle was invalidated by the recent surge in prices up. I was expecting a surge of some sort up in this pair but didn't expect it to be so strong. Does that mean this pair has turned bullish? Well, as I'm showing in this Daily TF, I still don't think so. Not yet anyway. If it ever does.

So now what I am seeing that is possible is that this whole corrective shebang may turn out to be a complex WXY with a barrier triangle in the wave Y position. And that triangle is only partly completed. In fact, the recent surge has just completed and maybe confirmed this barrier triangle. You see, that "surge could not break out of the recent highs and in fact when it stopped moving higher, it left behind a triple top. Something you see commonly in barrier triangles.

Should the triple top hold and prices start to decline back down, then that will go a long ways towards confirming that barrier triangle. But we will still need to see prices head down in the leg D of that triangle to be sure. If prices were to rise and break the highs where point A of the triangle is, then that will serve to invalidate it. At that point, we'll have to look higher to see a target. But for now, this is the scenario I am working under until it's wrong.

I have a more in-depth update in this pair on my site including a trade. Go there to see it. It's for members only though so you'll need to subscribe if you want to read it. And I will have FULL ANALYSIS on this pair and many others to be released this weekend and next week after the NFP. So if you want to receive them, go and subscribe now! Take advantage of the trial offers now available. Go here: http://goo.gl/qRNGsF

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thulasi
8 months ago
Thanks couldnt the current wave is first wave of the C wave then a 2 nd wave towards 1.103(.618% fib of this first wave ) then a 3 rd impulsive wave towards 1.19(1.618 of 1 st wave which is still in progress) then a 4th wave finally a 5 th wave reaching 1.21(that is 50% of the larger move)
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TF.
8 months ago
snapshot
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Bleck
8 months ago
Good morning ! I was looking at it with the same view but as we have now broken over A at 1.1376, i believe that we may have 2 things happening here : Either wave Y could develop as a complex wave C of a bigger triangle ( so long we do not break above your W) or Y is developing as an ending diagonal of a large flat ( your w and X waves) which would mean a break of W over the 1.17 area ! I would appreciate your view on that ! Thanks in advance and keep up the good work. Best regards
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countingwaves
8 months ago
This entire correction is a regular flat
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maverick23
7 months ago
i see the C wave not finish now. i see it someware oround 1,1700
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This count I really like. It makes sense of the wave Circle B to Circle C. Let's see if it plays out. I think you are to something here.
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