possible larger retracement on Euro now
Updated
The Elliot waves is on it's fifth, and the pitchforks also suggest a top could be near.
it is unclear if we could see a bit more up before a drop, or if it has started already.
the larger fork has a bit more room to the upside and that is why it is a bit unclear as price "should" have reached the top paralel of the big fork,
there is plenty of supply above with heavy clustering, so this could be seen as weakness. if we will go up more it should be in slow motion,
or on a further drop we should be encreasing momentum slowly and pick up speed the furhter down it goes,
down to at least 38.2% but possibly much lower.
it is unclear if we could see a bit more up before a drop, or if it has started already.
the larger fork has a bit more room to the upside and that is why it is a bit unclear as price "should" have reached the top paralel of the big fork,
there is plenty of supply above with heavy clustering, so this could be seen as weakness. if we will go up more it should be in slow motion,
or on a further drop we should be encreasing momentum slowly and pick up speed the furhter down it goes,
down to at least 38.2% but possibly much lower.
Comment
we are also near the 1.618 extension level, with a lot of profit taking will help to get this train turn back to station
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