EURUSD - BIRDS EYE VIEW WAVE REVISION - Wave E of 2 In Progress

8 thg 11, 2020

I was initially bearish the EURUSD until I started questioning my analysis and now the bearish count is back.

OK, so in line with my previous long term views (linked below) here is what I expect to happen next.

Usually when I get a few ideas wrong in a row I realize something is wrong.

I can now come up with many more reasons why I believe this will happen.

Aside from the macro side which I have researched into separately this latest move up does not look very impulsive.

If this was a Wave (A) of a zig zag then it would appear sharper and a little more impulsive.

EURUSD and the DOW JONES are somewhat correlated so why would I expect the EURO to go up given my latest market analysis? (linked below)

Corrective patterns within a corrective waves can be quite tricky as I have learned but it provides valuable clues.

I think we are close to the end of this move.

I will track this E Wave and treat it as such in future analysis. I am now looking for a top in Wave E.

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