The current structure shows a possible 5th wave formation pointing to drop from the 1,17 area to the 1.15 area. by definition the 5th wave is usually the same size as the 3rd wave but may extend further. by that premise i expect the euro to drop by at least 300pips before a corrective ABC movement.
However i wouldnt put it past the euro to make a run at retesting the breached trend line as immediate resistance. price may have shied away from that price but we could see a more solid retest around that same price.my bias therefore remains bearish.
However i wouldnt put it past the euro to make a run at retesting the breached trend line as immediate resistance. price may have shied away from that price but we could see a more solid retest around that same price.my bias therefore remains bearish.
Comment:
1.1777 held...now we hold