donaldsaw
Short

There is still strength in the EUR!

FX:EURUSD   Euro / US-Dollar
My previous count had the EUR USD making a new high to complete the 5th wave of an Ending Diagonal at 1.07750 but this hasn't been confirmed as there is still sideways movement which only points to an incomplete move so this is my recount.

Current Wave: Short wave c of wave 4 of an Ending Diagonal is currently in progress
Next Wave: Long to make a new high at the termination of wave 4 to either hit 50% or 618% retracement of the bigger wave (1) as marked.
Forecast Wave: Once the high is made, expect a sharp start to wave 3 which will be signified by a 5 wave impulsive move to the downside.

There are still pips to be made on the up side but it is prudent to wait for the completion of the wave 5 of an Ending Diagonal where the potential pip gains to the down side could exceed 1000+

Feel free to comment and share your thoughts

Happy Trading!
Kommentar: Key levels have hit as forecasted.

If there isn't any further momentum towards the downside, I will look at going long to the complete the wave 5 of an Ending Diagonal.

Happy Trading
Kommentar: Bounce towards the upside as happened as forecasted so some nice pip gains to start the week.

Looking for a rally in a Zig Zag pattern to either hit 50% or 618% retracement of wave (1) to complete wave 5.

Happy Trading
Kommentar: EURUSD is moving as forecasted and is very close to hitting the 50% retracement level.

I'm looking for a last spike/push form the EUR before I look at options to go short with this pair.

Happy Trading!
Kommentar: 50% retracement has happened and the ending diagonal looks complete.

I have taken a short position and will wait for an extreme sell off of the EUR as this is wave 3 based on my count so I expect this move to be sharp, quick and deep; possibly breaking the 1:1 mark

Happy Trading
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