WaveAlchemy
Short

EURUSD MONTHLY BEAR (MAIN)

FX:EURUSD   Euro/U.S. Dollar
42 0 1
Hi all,

This count is based on the assumption that the market hasn't seen lower lows prior to 1994 (PLEASE Correct me if I'm wrong). That's to say that the price action we see here, is a bullish correction.

The stifling decline from the most recent orthodox high at cycle degree torque (2008) will be added as an extension to the corrective structure (because it is unlikely to be the beginning of an actionary motive wave to the downside for it has too many overlaps and appeared to be range bound for the most part).

Cycle wave x torque subdivides nicely into a double-three, where primary wave w red unfolds as a simple zig zag , and primary wave x red unfolds as a flat, and primary wave y red could be unfolding as another simple zig zag .

In summary, I will anticipate a sharp decline soon that will unfold intermediate wave c black and thus complete cycle wave x torque.
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