EURO vs USD update

CLIFF NOTES: the EURO bottomed on June 05,2014.  It’s been correcting for 18 (long days).  The most recent correction that occurred (intra day) on Friday was, just that, a corrective move in what I believe is the last leg of a “long” flat correction.  Targets in/around 1.3700 are a good place to get into a short.  Additionally, we could still POP up to 1.3800 so need to continue to monitor and be patient.

In any event the 1.39930 is KEY to the thesis that our 3 wave 1.5 year correction (labeled below as W-X-Y) is complete and we are on the verge of a major move lower in the EURO vs USD.

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