Hello. This is an update for my previous long term EURUSD counts.
In my last post I predicted a bonce near the equal legs target from the 2008 highs: It seems like this downtrend is in wave five and a recovery should take place soon. The big area of interest is 1.12-1.02
As anticipated, we got a bounce at the 1.05 level, but the correction seems to be in a sideways fashion, most likely a triangel. This correction have give indication that the sideways trading that occurred between 2010 and 2014 was a complex correction wave (X), and we probably should see new lows in the 0.98-0.80 area to complete wave (Y).
Alternatively, we are in wave (XX) that should give way to new lows in wave (Z). Either way, we should see lows below the 1.0 mark.
Great analysis.
Completely agree with your longer-term outlook.