EURUSD: Monthly Chart February 2016

WAVE COUNT
From this count, we can see that there was a clear 5 wave impulse wave which is being followed by a possible 3-wave correction that is underway. In this 3-wave correction, I have labeled the wave (A) and (B) as both being done and we are now in a 5-wave wave (C) decline. Within that wave (C), wave 1 and wave 2 are done and it is possible that wave 3 has just completed. If that is correct, then we are in a wave 4 now. Whenever wave 4 completes, wave 5 should see prices drop down below 1.0000.

PATTERNS
Dominating the chart is a POTENTIAL Bat and within that wave (C), there is a POTENTIAL Crab that also points to lower prices ahead.