On the EURUSD I was just doing my analysis, and then I noticed something. This technique is sort of based on an pattern. We have the blue move and the red move. They are almost equal in size. The blue is 540 pips and the rest is 515 pips.
Many times when price has moved this amount of pips, price reversed or made a correction. And this reversal was almost down right to the pip.
Based on this theory, it could very well be that price is going to make a move towards the 1.08800 area.
Thanks for reading :)!