EURUSD cant keep it up - EW wave iv triangle

13 thg 2, 2015

The EURUSD has been free falling for weeks and months now, and with sentiment at an all time bearishness, we are approaching a bottom. Following a degree of wave iii, the EURUSD has demonstrated a non impulsive reaction composed of zigzags. The recent failure of wave c impulsive implies that we are in a typical wave iv triangle consolidation. This cannot last long, we will break out of the triangle soon and approach medium-longer term lows perhaps near 1.08. The thrust should be fairly quick and could be triggered by news,