olks, it’s been almost a YEAR since the EURO made new lows … and, in the process I have literally, looked to long or short multiple times but it just never felt “right.” so around Dec 2015 and early Jan 2016 it appeared … this puppy is doing a year long triangle.
so, know a triangle unfolds in 5 waves a=b=c=d=e and knowing that it usually occurs after a strong move I see the most current action as “e” and the final wave to complete the triangle.
so, this is where it gets tough … “e” could end in as shown in a couple places. and “e” should unfold in 3 waves.
so it’s still maturing … but we now have some clarity in the potential next move.
remember, it’s hard to catch the break from the upper or lower end of the triangle boundaries because they are swift moves higher or lower.
this move, should, take the EURO into the .99 area.