USDEUR ending diagonal kills rally hopes...time for a weak USD
The primary degree corrective wave ended just shy of the .618 retracement of primary 1 down at .968...so just shy of parity as well.
We can count a clear "5" down from the peak. Watch this on the short side. There should be a short term corrective rally "3" near-term followed by a more significant "5" down, followed by a short term corrective rally and then another "5" down...the size and magnitude of these movements will dictate the next longer term trend but I think it will be down....weaker dollar under Trump...unexpected EUR strength after Brexit shock...
We can count a clear "5" down from the peak. Watch this on the short side. There should be a short term corrective rally "3" near-term followed by a more significant "5" down, followed by a short term corrective rally and then another "5" down...the size and magnitude of these movements will dictate the next longer term trend but I think it will be down....weaker dollar under Trump...unexpected EUR strength after Brexit shock...
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