Hi All, EURUSD movement has been fuzzy during the last few weeks. I think we are dealing with a triangle, which is about to complete soon. The reason I think it;s a triangle is because of an enormous amount of contrarian ideas that I've seen at TrView during its development. Because... this is what triangles do. They make the crowd believe the trend is up, and then they screw the bulls badly. Then they swap places, and they start abusing the bears in a similarly disgraceful fashion. They do this a couple of times with both (A, B, C, D) and one last time (E), with the former, and then the old trend resumes. So I do believe that my original forecast is valid and we are heading to 1.05 once again, it's just taking a bit more time. P.S. Gold&Silver should follow.
Thanks for this and all your other charts too. I have been following this pair for a while and believe there is a larger triangle at higher degree, check out the weekly chart. If correct, then it's possible that the current triangle we're seeing is "b" of a.b.c to create Triangle C wave. It's just another alternative to keep in mind with this choppy action we've seen and means it'll be a while longer before the corrective action completes. What do you think?