eur/usd is on a down note but might have one more small advance to go before resuming the larger decline. Next larger target on the downside is the minute wave 1 low at 1.052 and upside critical level is previous minor wave 4 peak at 1.1035.
There is a possibility that this is still minor wave 4 taking a shape of a triangle. If this is the case i would expect next a push near 1.098 level and after that another push down.…Continue
A downwards bias in eur/usd and this might be start of minute wave 3. This next wave should accelerate this decline and carry eur/usd to new lows and beyond 1.046 which was previous minor wave 3 low.
Taking into account this wave count and few months of negative economic data from US i think there will be massive run FROM the dollar, as there were massive run to the dollar that accelerated about a year ago. The run from the dollar will be more swift and the dollar crosses could be a…Continue
I have dropped the view about ending diagonal and altered this wave count a little. This new count sees this recent push upwards as minute wave 2 and implies that there is still quite a way to the bottom since there is still waves 3 and 5 left in the series.
Let's see how this develops. The economic data from US has been bad for months but most of the market participants are still optimistic and are expecting rate hikes this year. Euro zone is still a mess and no improvements in…Continue
Since minute wave 4 has overlapped with minute wave 1 i have labelled this decline as ending diagonal. This would suit the view that this large decline that started near 1.40 is about to end and a large reversal is about to occur. Therefore i am expecting 5th wave decline to reach around 1.043 area before major trend change in eur/usd…Continue