I erased the short term wave count for now because there are too many possibilities at the moment. Nevertheless I'm looking for a sell trade as shown in the charts. I'm definitely not a buyer in this zone, for a buy I need a clear impulse on lower time frames followed by a consolidation because so far it looks very corrective. For context see links below:
EURUSD is consolidating, IF it however breaks bullish I will wait for next consolidation before considering a buy trade.
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no change in bigger picture but with this response and what dollar index is telling us we should adjust. Keep an eye on the black horizontal dotted lines and the two major fibs showing 50%. EURUSD is famous for its 50% range. First of all let price mature before entering so you will increase your probability.
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sean3laine
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Perfect !!! yes... agree drawn C wave 1.08 :)
TimStuyts
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That would be great and also fit with dollar index set-up. Let's see because so far nothing is confirmed but it certainly looks good! Good trading to you!
patelsa
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Agree...looks like it could turn out to be a very long drawn C wave to the 1.08 level. Lets see...nice analysis :-)