Current wave: Wave 5 of 5 with wave 1, 2 and 3 complete with the wave 3 extending to 1.618%.
Next wave: A wave 4 of sorts will start shortly and I predict that it will be a triangle at a lesser degree signifying and yet another terminal sub wave move
Forecast move: I expect this pair to make a new 14 year low at around the 1.0430 price mark and then a MASSIVE directional change for years to come.
Alternate count is the there could be an ending diagonal of sorts as that also signifies a terminal move.
Forecast move remains the same: I expect this pair to make a new 14 year low at around the 1.0430 price mark and then a MASSIVE directional change for years to come.
1: EURUSD has a Bullish Divergency in every timeframe from Monthly to hourly indicating that USD has been MASSIVELY overbought since the high in July 2008
2: We saw the 5th wave breakout which completed yesterday off the larger wave 4 triangle.
3. There will be a rally by the EUR of sorts for either a change in direction or a corrective ABC long from here.
4. FOMC saw the Fed rate increase to 0.75% so demand for the USD should increase but given that USD is MASSIVELY overbought, I am unsure this will have long term impact on the USD to gain strength to dip below 1.000 mark
Feel free to share your views and thoughts on the above