EURUSD - After Volatile News Cycle, Back to Sanity

FX:EURUSD   Euro / U.S. Dollar
741 0 27
This whole move up you see here with large swings on the way up was a product of some overzealous trading off the past weeks of EURO-events. But if you had been keeping track of a smaller triangle within the larger triangle that I had identified MONTHS ago, then you weren't surprised at all. That move up was already predicted to happen according to the triangle. Don't know what I'm talking about? Then you need to read my FULL ANALYSIS on this pair available for FREE on my website (go here: http://goo.gl/Q1YqGh). You'll get a MUCH better idea of what to expect in the coming days, weeks, months.

But for those only interested in what is to happen next (you're the ones without a PLAN!), well, here you go. Prices are now declining from being rejected by the upper TL of the larger triangle and the completion of the leg E of the smaller triangle. That move up was the wave B of leg D and this wave down is just the wave C of the larger leg D keeping in mind that each leg of a triangle contains 3 waves. But also remember that the wave C itself will likely be a 5-wave             move.

The recent price action up has also setup a nice POTENTIAL Cypher pattern that has it's completion right down by the lower TL (red dashed line) of the smaller triangle. Upon completion, we should see a bounce back up maybe near to the upper TL of the larger triangle and then back down.

Get the FULL ANALYSIS here: http://goo.gl/Q1YqGh

Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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