EURUSD - Wave Revision - Based On Gold Analysis
If you have seen my latest Gold analysis you will know that things have changed quite a bit in regards to my view on the USD dollar.
I now must critically evaluate every FIAT currency pair based on this analysis which is a good thing because now we have proper direction.
Having now turned bearish on the US Dollar we must now look for the bullish view on the EURUSD.
Luckily I have done this in the past so it came quickly to me once I had the Gold analysis right.
We are looking at a V shaped recovery in 1985 which is typical of an E wave followed by a series of 1-2 patterns.
Blue Wave 2 was a simple sharp correction whilst Green Wave 2 was a more complex and lengthier correction indicating some alternation has occurred.
In 2017\2018 we had Blue Wave i followed by a complex Red Wave A, so as I have mentioned before if Wave A is complex then the following waves should happen faster.
So the current move up is a Red B Wave and this may not be complete yet, I will keep an eye on this as we may only be seeing the (A) wave right now.
Then we wait for a Red C Wave to occur.
Remember there will be Red C, D and E yet to come and once these have occurred, this is when you will want to be ready to go long.
Until then we play the waiting game.
Please LIKE and FOLLOW to get notification of updates and future posts.
(To see the waves that came before the 1-2 patterns look up FXTOP)
See my related Gold analysis below.
I now must critically evaluate every FIAT currency pair based on this analysis which is a good thing because now we have proper direction.
Having now turned bearish on the US Dollar we must now look for the bullish view on the EURUSD.
Luckily I have done this in the past so it came quickly to me once I had the Gold analysis right.
We are looking at a V shaped recovery in 1985 which is typical of an E wave followed by a series of 1-2 patterns.
Blue Wave 2 was a simple sharp correction whilst Green Wave 2 was a more complex and lengthier correction indicating some alternation has occurred.
In 2017\2018 we had Blue Wave i followed by a complex Red Wave A, so as I have mentioned before if Wave A is complex then the following waves should happen faster.
So the current move up is a Red B Wave and this may not be complete yet, I will keep an eye on this as we may only be seeing the (A) wave right now.
Then we wait for a Red C Wave to occur.
Remember there will be Red C, D and E yet to come and once these have occurred, this is when you will want to be ready to go long.
Until then we play the waiting game.
Please LIKE and FOLLOW to get notification of updates and future posts.
(To see the waves that came before the 1-2 patterns look up FXTOP)
See my related Gold analysis below.
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