EURUSD breaking

FX:EURUSD   Euro / U.S. Dollar
11342 76 222
The EURUSD             is breaking but to confirm the upside continuation I am wait for a correction before I buy.
The big question -Is this an impulsive move for the C wave up or a correction for one more down leg.

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Comment: EURUSD has completed the first impulse and is now in the correction phase ,the question now is, what would the next impulse look like ? the yellow or the pink?
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Hi Anil. I think your analysiss are pretty spot on. I'm new to this platform but a long-time EW guy. Here's my view on this right now. I will join your webinars soon. I'm not too happy about the pull back at the trend line so we will see if it carries through.
+1 Reply
Hi Anil, Thanks for your foresight. I wouldn't have spotted this otherwise.

Hi fxmillions... I see you are counting this pull back as a wave 4 triangle. It may be a wave 4 however if your triangle count is based on Prechter's EW there seems to me to be something you have overlooked. Your circled wave B should not be higher then the termination of what would have been wave 3 from the impulse move up (not marked). If you like I will find a chart with a representation of a more standard triangle wave 4 count and post if you are interested. Let me know. My count is below and it is not yet validated either..... It will be if the wave three up, breaks the downward sloping trend-line without going lower than 1.07
+2 Reply
fxmillions peterdcharlebois
Yep, your'e right. The triangle was not a triangle in the end :)
I have changed my count soon after it broke low. Please show me what your analysis is. It will be nice to learn something new and/or correct my understanding of wave counting. Thanks for your comments.
I would like to see a yellow :P
Piet.Hein Piet.Hein
like a sunshine
look for yellow, it's my favorite color :)
+2 Reply
bekirdur Kadhijah
Yellow trend is still commencing. It may happen really, I am also watching that path. If it happens, I will send a box of chocolate to Anil ! :)
+3 Reply
Corrective wave more probable, pink path.
+2 Reply
Anil, can we assume this as the higher level wave count?
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