Euro sell on rally mode and Elliott wave forecast
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Anyone care to venture an Elliott wave view on the euro? (short term). I am not an EW counter, but it's sometimes a profitable musing.
As far as I can tell this has one more leg to go down and might get it tomorrow in the coming London/US. It's trading to the higher end of its range from here and I stopped shorting it earlier today. It's very possible to break through this 3130 top and see 40/50 pips higher before selling off.
If you all see this break upwards, remember that euro is in a sell on rally situation. A 1.50 - 1.75 cent pullback on a 3 cent fall is a good place to short to test 3000.
*** It's breaking through 3130 as I write this! Let's see if it's a proper break worth 40 pips.