The reaction from lows in the EURGBP was non-impulsive from the start. This is why I have been tracking this flat correction, wherein wave A of an abc may be non impulsive. Wave C is an impulsive ending diagonal. USOIL recently demonstrated an example of an ending diagonal - When an ending diagonal completes it quickly reverses and retreats to at least the level where it begun. In this case, a drop to 0.74 is in the bag.
The EUR is in trouble but this has been well anticipated of late. With traders enamoured with EURUD Parity we should expect a greater reaction from lows after the trend continues to new lows from this point before we reach parity.
The EUR is in trouble but this has been well anticipated of late. With traders enamoured with EURUD Parity we should expect a greater reaction from lows after the trend continues to new lows from this point before we reach parity.
