EURUSD Long: A second Entry at Triangle Completion

EURUSD is nearing the completion of wave-(e) of a possible contracting triangle that could mark the end of wave-(2) before the three-of-C breakout. Entry at AB=CD inside of wave-(e) is confluent with the completion of a bullish cypher and may act as a catalyst for the bullish impulse. Long term target is placed at A=C. It is possible that another rebound off of the top of the triangle could occur, but we would avoid our SL as price would remain inside of the contracting triangle and the breakout would likely occur soon after.

Yorum:

First bullish entry:

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ECB announcement calls for a recount