Finally Wave 1 has shown itself, so now we need a Wave 2 down before we can jump on the Wave 3 thrust to new all time highs.
Wave i of 1 of this impulsive move up happened quick due to the Elections therefore Wave iv was longer in duration.
The coming wave 2 retracement should be deep.
I am looking at the .618 - .782 area but the wave count should make this...
On other side of the coin I see the EURUSD completing a Wave 2 correction and creating an A-B base.
With confirming price action which should take this pair above recent highs some further wave developments should create a very lucrative trading opportunity.
US Dollar is nearing the completion of the C Wave of Wave 2.
Following this a Wave 3 down resume the US Dollar Collapse.
It could happen around the .618 retracement alternatively at the 78% but probably unlikely.
I believe that the 2009 crash was a wave 1 of what should now become a bear market.
The corrective nature of the rise since that time is in 3 waves with wave C being much weaker than wave A.
We should now expect to see a wave 3 down for what one can assume is wave A of a larger correction.
Go long on this very good bullish reversal candlestick pattern with confirming price action at a support area.
This is the turning point for EURCHF.
Get ready for a big move up.
Stop goes underneath the doji candlestick OR the brexit low.