I was initially bearish the EURUSD until I started questioning my analysis and now the bearish count is back.
OK, so in line with my previous long term views (linked below) here is what I expect to happen next.
Usually when I get a few ideas wrong in a row I realize something is wrong.
I can now come up with many more reasons why I believe this will happen.
Aside from the macro side which I have researched into separately this latest move up does not look very impulsive.
If this was a Wave (A) of a zig zag then it would appear sharper and a little more impulsive.
EURUSD and the DOW JONES are somewhat correlated so why would I expect the EURO to go up given my latest market analysis? (linked below)
Corrective patterns within a corrective waves can be quite tricky as I have learned but it provides valuable clues.
I think we are close to the end of this move.
I will track this E Wave and treat it as such in future analysis. I am now looking for a top in Wave E.
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