Expecting down move in EURUSD
Updated
We had a down impulse end of last year and are in a correction since this year. I’m expecting the pair to at least go down to the bottom of the channel soon. The correction might even be over, so we could as well break the channel and go below $1. Alternatively we have one more up from the bottom of the channel before we move below $1.
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Monthly view: At the top of the channel we have two possibilities, break of the channel with a flag and an uptrend back to the all-time high or one more down. My favourite at the moment is a break to the upside but we have to wait and see, it’s going to take two or more years until then.
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Sorry messed up the screenshot in the last update
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Monthly again, this is my first idea so I had to figure out some things but I think I have it now ;)Note
As the EUR goes quite high now again we could have a different three wave pattern here. We could even break the high at point 'A' and only then break down.
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We’re approaching the critical level. The EUR can reverse any time now but it might go up to around 1.18 first.
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