Hi Traders,
EU has formed a clear 5 wave structure in wave A, with wave 5 forming an ending diagonal. In the grand scheme of things, I'm looking for an ABC pattern to complete wave Z (as I believe that price is about to complete a triple three correction).
In the long run, I'm expecting that price will push towards 1.0300.
Regards
Wave Theorist
New to TA so please excuse my ineptitude. As far as I can tell, this idea conforms to Elliot Wave formation rules. If this is correct, we will be entering corrective wave 2 shortly if $11786.01 isn't broken. I would appreciate any feedback if I've misunderstood or overlooked any formation rules which invalidate this analysis.