Here's an update on EURUSD. I am currently looking for a short entry.
I believe the three-month correction is already over and more weakness in EUR will continue to develop in the coming couple of months.
The target is 0.9941 - at least!
I think the first subwave of the decline is already developing, but as usual there is a high chance of a deep correction, which should retrace a substantial part of the first impulse. So, I would refrain from entering short right now, but would watch for a completion of the corrective structure in subwave 2. Otherwise watch for the breakout of the lower boundary of the corrective channel.
I believe the three-month correction is already over and more weakness in EUR will continue to develop in the coming couple of months.
The target is 0.9941 - at least!
I think the first subwave of the decline is already developing, but as usual there is a high chance of a deep correction, which should retrace a substantial part of the first impulse. So, I would refrain from entering short right now, but would watch for a completion of the corrective structure in subwave 2. Otherwise watch for the breakout of the lower boundary of the corrective channel.
