Price fell hard today helping the idea. We are not out of the woods yet though. According to EW this final wave 5 can be a complex movement and all we know is that price should take out the 88.60 low. So I am looking at this one closely
solid downmove again today closing on 89 the figure. This downmove caused the euro to fly today despite a wobble this afternoon when US CPI and Retail Sales were announced in favor of the US$. Price is only 0.60 away from the lows. I am looking for this low to break and price head for 88 the figure. Noe price has fallen from 90.50 in more o less a straight line so I will not discount the possibility of some retracement before the final move down
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