Updated

EURUSD 2017 forecast (wave analysis)

A big corrective structure is expected. (A)-(B)-(C)
may2016-jan2017 bear market should be corrected.
Wave (A) looks like formed.
Wave (B) is forming. when it is done, good BUY opportunity is expected.
When wave (C) [bull market] is done, major BEAR market is expected.
This (A)-(B)-(C) pattern is expected to be comleted in june - september 2017.
Possible eurusd wave (C) target is 1.1126. no clear predictions by now.

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close look at wave (A) [9feb2017 made]

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s-term buy target is 1.0713
after that I expect a good sell opportunity (maybe on Thursday)

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a possibility of touching 1.0713 remains

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1.0713 was touched

Trade active

eu moves according to original plan
wave c (purple) formed 5 wave structure, which completed green wave (b), which is 3-3-5 expanding flat.
now green wave (c) should unfold to complete yellow wave (B)
sell targets on a screenshot.
watch pointed breakout for confirmation of sell signal.
it should be a nice sell.
trade with care!

Trade active

divergence formed.
trendline of wave 5 is broken.
move to major trendline of wave c is expected.
after that break a big move down is expected.

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bullish flag was broken
it might make one more top before going down.
pointed trendline breakout will be a confirmation of sell signal.

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price still stays inside channel
wait for breakout to sell it!

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eu broke a structure with a real sharp move.

now we should wait for a flag / correction to sell it. (if u are not already in sell)
big picture update.

Trade active

re sell setup
watch breakout

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flag was broken

actual short term targets

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75 pips by now. not bad move.

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looks like that was a resell point.

eu still has a room to fall.

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it might do this before doing a next big drop

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that was a nice sell.
I kept drawings as it was. it's still actual.
main scenario is in play.
wave (A) is still forming
have a nice trading!

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I expect price to crawl up a little bit more and make a complete ending diagonal pattern in 5th wave of [5] th of wave (A)
that will give us a textbook sell setup. (maybe in 1-2 weeks)

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buy targets is done on 95%
I'm not sure if this fall is a start of next big down leg.
it might do one more up before next bear markets unfolds.
personaly I covered short positions by average price of 1.09 (30-40 pips of profit)

if this down move is a new impulse, wait for correction to sell it.
anyway buy potentional is limited.
but price may retouch upper trendline or even break it and only then reverse.

Trade active

5th wave trunction? why not?
5th wave = 3rd wave * 0.618

trendline of diaogonal is broken

big picture

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price action took me out of trade.
I will look for next sell opportunity

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actual wave count
wave (A) is almost formed (1-2-3-4-5) [red]
5th red wave is 1-2-3-4-5 [blue]
5th blue is 1-2-3-4-5 [green]
5th green is expected to be a-b-c. c is expected to be 1-2-3-4-5.
watch it! EU should follow gold fall in a few days!

I will try to resell it near upper trendline and after pointed trendline breakout will occur(as confirmation)
set limit and stop orders should help u.

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fed interest rate decision in 2 h.
I expect it should trigger eu sell
watch it!

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price broke trendline, but it did not maka a new top.
what does it mean?
- 5 wave trunction scenario
- structure is not completed, so a new top may occur.
anyway, if eu is already on its way to the bottom, (as Anil Mangal says) we need to wait till price makes and breaks a flag to sell it.
it's a nfp report on friday, which might add a fuel to our expected bear market.

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flag breakout should confirm further down move.

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flag breakout gave only 15pips down move. shame.
eu movement upsets me. it underperformed gbpusd and xauusd.
now it looks like eu wants to make a new top with its final wave 5 of 5.

Trade active

a new top is finally done
price break through upper trendline.

wave 5 should not exceed wave 3 size. (go beyond 1.0982)
if it does, it will break a structure rules. (wave 3 (red) can't be the shortest wave)

Order cancelled

price action broke the structure.
wave 5 exceeded wave 3 size.
wave count is no longer valid.

OleksandrSnitko

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