Major EURUSD reversal coming up..

FX:EURUSD   Euro / U.S. Dollar
1675 41 18
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:
This idea is now closed..
JayJay JayJay
JayJay JayJay
crapp.. wouldn't post the updated version..
JayJay JayJay
one more time..
JayJay JayJay
Congrats JayJay. May I ask you how can I reach your level of technical analysis?
JayJay Shadowbrokerltd
wow.. that's too much credit I'm sure.. but practice makes perfect as they say.. :) .. this one was relatively straight forward though.. 0.618 retracement with divergence on the daily, and later, the weekly time-frame as pointed out in this post.. a major point of interest and giveaway to me, though, was the overlapping, and thus, "weak" price action on the daily since April 2013.. which I think is a major area of importance in any market; that is; learning to identify impulsive vs. corrective price movements.. Look into some EW theory for this.. and of course we have Draghi emphasizing for over the last year now that "inflation expectations remain firmly anchored".. :) .. best of luck..
Along with this new publication..

JayJay JayJay
JayJay JayJay
Not too bad ejhh?.. Approaching good place to lock in / take some profits for those who are playing this short term..
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