EURUSD EW analysys, WXY wave IV a convincing and valid count.

18 ביוני 2015

EURUSD has had a big rally from lows. Beginning with an abc it was corrective from the start, implying wave IV and an unresolved wave V. a clear termination of a 3-3-5 correction failed to produce a five wave structure, instead producing the X of what is so far a complex double zigzag. Set to top characteristically in the larger wave iv decline this thrust from a terminal triangle wave b should produce a quality short opportunity no matter what the larger count. However, this larger count supports holding a short to near parity before bottoming.