EURUSD - 1.23 possibility

FX:EURUSD   Euro / U.S. Dollar
139 3 0
Publishing this chart just to see how things shape up and also check on the effectiveness of using rectangles to measure time. From the charts, it looks like 1.3312 might be the final touch should EURUSD             turn bearish . Its interesting to note 1.23 price level around 1st August.

Watching this pair
What do you think about an update to this chart?
Yep, its 50-50.. But in the past, I've seen some wolfe wave set ups that showed bearish at a time when Euro was strong (and this was even before Cyprus crisis came out in the open) and few weeks later it pointed to a small but significant bullish signal (again before hand). In case you are interested to read about it: http://bit.ly/14dTbix

The aspect of rectangles is something i'm still trying to factor in because typical WW's also shows ETA via convergence of the points 2 - 4/1 - 3, but it doesnt happen very often.

A good case in point would be CADCHF trade that i'm monitoring.. which IF (and a BIG IF) continues its down move, should reach its target of 0.89 by tomorrow... Have a couple of similar examples set out.. let's see how price shapes up.
It is a possibility. But may take some time beyond 01st of August. No major news around the corner and may be by the end of August ?

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