EURUSD has reached its target price. My previous analysis followed exactly the expected movement of
EURUSD
. Although the movement may slow down at these levels and turn into a correction phase, I expect a further decline in the longer term. However, I will be trading LONG positions in intraday trading in the coming days. My assumption is that a corrective rise of close to 200 pips could develop. The yellow squares in the chart represent corrective wave sequences. I am currently waiting for a similar corrective wave sequence to form. The two local points of the wave are the white dashed lines, which are ATR axes, defined by the edges of the two channels. In other words, I expect to test the corrective back-test of this channel. I do not expect a sustained trend reversal.
EURUSD
. Although the movement may slow down at these levels and turn into a correction phase, I expect a further decline in the longer term. However, I will be trading LONG positions in intraday trading in the coming days. My assumption is that a corrective rise of close to 200 pips could develop. The yellow squares in the chart represent corrective wave sequences. I am currently waiting for a similar corrective wave sequence to form. The two local points of the wave are the white dashed lines, which are ATR axes, defined by the edges of the two channels. In other words, I expect to test the corrective back-test of this channel. I do not expect a sustained trend reversal. 
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