Euro / British PoundShort
Correction finished -> Lower prices to come
This is an easy one.
You see an ABC correction (in red) with a wave 5 in wave c which terminates at 0.5 fibo of wave 1 to 3 added to wave 4 (see the dashed line from b to 4).
RSI is showing a divergence which also gives the signal that the correction is over and lower prices will come.
Price also broke below the wave 4 and strengthens the signal.
We should see price falling rapidly.
Further information:
We could see the weakness of the euro in the last weeks and the QE program of the ECB will speed up this weakness.
You see an ABC correction (in red) with a wave 5 in wave c which terminates at 0.5 fibo of wave 1 to 3 added to wave 4 (see the dashed line from b to 4).
RSI is showing a divergence which also gives the signal that the correction is over and lower prices will come.
Price also broke below the wave 4 and strengthens the signal.
We should see price falling rapidly.
Further information:
We could see the weakness of the euro in the last weeks and the QE program of the ECB will speed up this weakness.
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