EURUSD: Extended fifth wave decline complete?
Updated
As depicted in the chart, we might be at a major turning point all things considered.
Here's the technical setup I'm seeing in a smaller scale, which could evolve into a very large home run long if I got it right this time.
Things to monitor:
Should be interesting to watch what will happen with the Dax and the Dollar index in the coming days, as well as crude and gold. What will the next safe haven be?
Positive unexpected Greece news might fuel this move up, keep an eye on it.
As a correlated currency pair, EURJPY might offer a great opportunity on the long side as well.
Good luck!
Ivan.
Update:
Here's the technical setup I'm seeing in a smaller scale, which could evolve into a very large home run long if I got it right this time.
Things to monitor:
- A decisive strong break up from this area
- Rgmov uptrend to remain intact
Should be interesting to watch what will happen with the Dax and the Dollar index in the coming days, as well as crude and gold. What will the next safe haven be?
Positive unexpected Greece news might fuel this move up, keep an eye on it.
As a correlated currency pair, EURJPY might offer a great opportunity on the long side as well.
Good luck!
Ivan.
Update:
Note
Won't make it to the target yet, but analysis was correct overall.
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