So, why this uptrend on Euro this year? According to my waves study they have defined the target as been 1.2646 for this impulse wave.
At least there are two chances to get there. One is from 1.1563, where it is around now. Another is from 1.1228.
Last waves point to 1.1228.
However doesnt mean they dont profit from this one nearby. In or der to do that, is imperative that the price wont go bellow 1.1563 and preferably that sync last waves to get there (a 4th wave) before touch.
See my previous study on this instrument (link bellow) - still valid -
If price goes bellow, then I assume 1.1228 will be used and then another set of waves will be constructed, I will update if this is the case.
For a brief view of how do I reach to that conclusions, take a look at the following link.
Not ready understandable, but is my own private method for counting and measuring waves.
Please be aware that:
- These points could overpass a little as long as the impulse will be there, usually on a 4H or Daily UTC server.
- Please note that I am only predicting where things happens, not when, because that really depends on others factors such as the agreement of all major sessions - London, NY and Singapore - and also on Events, the fast/slow motion tool.
- Also those points/targets are not random or just imagination, they are in fact result of my calculations based on wave counting, measurement and convergence on very high timeframes starting from weekly charts up to yearly.