EURUSD approaching descending trendline from 1.6 high within an overall corrective EW pattern along with 0.618 retracement from 1.50 high / 1.20 low.. This count calls for another major leg down towards the 1.20 lows.. Current major leg from 1.2750 is also overlapping and thus corrective in nature adding further weight that current leg is a "B" wave..
We will be looking for a catalyst over the next week or two, most likely coming from Bernanke or Draghi, to halt the recent EU advance.. Shorts from around 1.3850..
Follow up on this chart:
We will be looking for a catalyst over the next week or two, most likely coming from Bernanke or Draghi, to halt the recent EU advance.. Shorts from around 1.3850..
Follow up on this chart:
