Euro / U.S. DollarShort
EURUSD Bearish setup against 1.1940
Technically I see the EurUsd unfolding a Triangle Wave 4 corrective pattern that is languishing in nature. The three way pattern we're are counting is expectedly in the wave (c) of a-b-c zig zag Wave C pattern down.
on the 30mins-1hr chart the five wave fall from 1.1961 we believe is corrected by an irregular flat (inblueonchart) that retraces from 1.1817 to 1.19408
The minimum target would be the A=C target of 1.1796 level.
The Next Target would be the A*1.382=C target at 1.1762
The Next Target would be the A*1.618=C target at 1.1707
Below this 1.1664 is of major interest because it was be the larger degree triangle C = (A*61.8%) Level.
We expect EURUSD to stay below 1.1940 and certainly 1.1961 and open Sunday dropping.
on the 30mins-1hr chart the five wave fall from 1.1961 we believe is corrected by an irregular flat (inblueonchart) that retraces from 1.1817 to 1.19408
The minimum target would be the A=C target of 1.1796 level.
The Next Target would be the A*1.382=C target at 1.1762
The Next Target would be the A*1.618=C target at 1.1707
Below this 1.1664 is of major interest because it was be the larger degree triangle C = (A*61.8%) Level.
We expect EURUSD to stay below 1.1940 and certainly 1.1961 and open Sunday dropping.
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