Elliot Wave Analysis:
Current Wave: Final wave 5 is almost complete and set to make a new 14 year low
Forecast Wave: Once the new low is made expect 2 alternatives.
A) This current wave 1 is apart of a bigger wave 5 to complete the breakout from the triangle which could see the EUR plunge below the 1.000 mark.
B) Or a MASSIVE directional change for years to come
In either situations, expect a bounce off the new low for either an wave 2 correction in alternative count 1 or a 5 wave impulse move up in alternative 2 count.
Since the fall, there seems to be a smaller wave 4 triangle forming which signifies a terminal move so expect a change of direction post making the new low.