The final blow

FX:EURUSD   歐元 / 美元
723 9 10
The decline from 1.2320 looks very corrective, looks like a triangle, a new high is due, can hit 1.2440.
取消訂單: Wrong.
Euro! time to go down here!
AndyM PRO 5898928
@5898928, Wish - Granted!
@AndyM, wrong, again, as usual
@AndyM Hi Andy. Thanks for the chart, good to see an update from you. A perfect set up here would be a run up wave 5 into, and maybe while Draghi speaks, before then reversing and falling heavily after he reminds everyone what junk the Euro is. Of course this correction and possible final wave up could last longer, but it needs an excuse to fall. I don't know if Draghi's words will be the catalyst for the fall, it could be something else. The only thing I don't like is that people are already saying to go short as he will talk down the Euro, so maybe he won't.

One of the important things in all this, as you said, is EUR/GBP. Did you notice yesterday how it got so close to the 14th of December low of 0.8760 and stayed close for some time, before having another go at it today? Some knew the importance of that level and how it's a slam dunk for a fall if it's broken. Without a break, there's still a small outside chance it could go up in a final leg as an overlapping 5 of c, but I really hope it doesn't. I just think that a break of that level provides confirmation of what you said is about to happen with the Euro. Thanks.
@Tarder, Hi! EUR will go down no matter what, it's just a matter of running this last wave up. Probably a few more days, this week, or the next one. EURGBP is locked in the downtrend and although the precise wave count is not clear, the downtrend will not reverse until it hits 0.78...0.8, we can be quite sure about that. Patience is the greatest virtue these days..
Tarder AndyM
@AndyM, Thanks Andy, I agree with what you say. We just have to be patient, something I'm absolute no good at.
@Tarder, here's a thing about the Pound: the tops or bottoms labelled 1-3-5 tend to occur within similar time distance, the 3-5 often taking even less time to form than 1-3. So if we project the duration of the blue 1-3 to onto 3-5, we obtain the target date for blue w5 completion being April 6th. Let's hope this will play out.
+1 回覆
Tarder AndyM
@AndyM, Thanks for the chart and for explaining it. It will be interesting to see if it can fall that far in that time scale.
It may be false break before going up. Will see...
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