1.38-1.39 is coming, we now have a large motive wave pretty much complete from the yearly lows and we've just breached the yearly high, will be mindful of short opportunities from 1.38 (W=Y) or 1.39 (1.618 of wave 1 of Y)
X wave to 1.33 could be a nasty one??
On the flip side we could get much longer into a ...
Looks like we will see another stab higher to complete the large Y wave and maybe take out the yearly high before another retracement lower. We could of course see a truncated 5th wave (so no new high) which wouldn't be unusual at the end of a big move. NO HERO TRADES.
Looking at the bigger picture from an Elliott Wave perspective. This count gives a 1.45 target for the Euro for the start of 2014 completing a very large multi year B wave, then a terrible plunge.
Comments, suggestions or rotten fruit and veg being thrown all welcome.