In the longer term I have two opposite scenarios - base case (red) implies bullish run up to 1.6+ zone, alt count (blue) would bring us to 0.85+. Details are below:
Long-term: EURUSD is building a base for a long term bullish structure. I count impulsive run from Dec'16 to Jan'18 as circle wave a of the 5th wave in the leading diagonal. At the moment it's completing circle wave b which should be followed by the strong move to 1.6+ zone.
Alt count: blue count showing the whole structure is a triangle originated in 2015. In this case it shouldn't breach 1.06. Circle wave e target is 1.20+ which should be followed by strong move down to 0.85+.
Short-term: wave 4 is forming, should take up to 2 months to complete, target zone is 1.12+. Expect to see weakness afterwards to 1.06+. Shouldn't breach 1.033.
Alt count: should reverse from here to 1.20.
Bottom-line - both counts are bullish in the short term
Long-term: EURUSD is building a base for a long term bullish structure. I count impulsive run from Dec'16 to Jan'18 as circle wave a of the 5th wave in the leading diagonal. At the moment it's completing circle wave b which should be followed by the strong move to 1.6+ zone.
Alt count: blue count showing the whole structure is a triangle originated in 2015. In this case it shouldn't breach 1.06. Circle wave e target is 1.20+ which should be followed by strong move down to 0.85+.
Short-term: wave 4 is forming, should take up to 2 months to complete, target zone is 1.12+. Expect to see weakness afterwards to 1.06+. Shouldn't breach 1.033.
Alt count: should reverse from here to 1.20.
Bottom-line - both counts are bullish in the short term
註釋
EURUSD has reached the target box for the RED count. If strong impulse up manifests itself one should expect a long-term EUR bullish market on the next 3-5 years.
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