ac7777
Short

EUR/USD: Potential Near-term Decline to 1.0562

FX:EURUSD   Euro Fx/U.S. Dollar
65 2 3
The Euro             appears to be ending its 4th wave bearish triangle which began in March 2015. That triangle is so far indicating an ultimate target of $0.87+.

I am expecting an initial thrust downward from the present rally peak (which I believe is the top of wave E, which is itself triangulating now and still has one minor wave up to be complete) to near $1.0562.

An alternate count is that this is the peak of triangle wave (b) of D, but the downside target remains the same. This discrepancy in the count could be resolved when it is seen whether price rebounds in an E wave from above the 1.05168 (the December 2015 low which is wave B of the triangle) or just keeps on going down toward the long-term target.
ac7777
9 months ago
Closeup of the triangulating end of the presumed E wave, which I believe is bearish and targeting $1.05 area
snapshot
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ac7777
8 months ago
Expecting imminent decline to cited target area
snapshot
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