EURUSD would possibly go up
Updated
SO as it might seem a bit confusing I'll go through the details
The market appears to be forming a double combination which is a zigzag-flat and in between, they're followed by a neutral triangle as an X-Wave.
so if the market unfolds the flat pattern and the C of the Y-Wave behaves impulsively the flat would be the best scenario for now, if not the pattern could change in to shape of a triangle or other time-consuming patterns.
considering the existing scenario correct, as time specifications are plotted on the chart, C-Wave of a flat would normally take 61.8% of the time consumed by waves A and B summed up or it will take 161.8% of the time of wave A in the undergoing case
Segment Y would often have 61.8% of the W-Wave in terms of price and would take a longer time In comparison to sagment W and the retrace after the WXY pattern is completed would be around 61.8% of the whole rally
it's just a general idea of where the market is and how it might behave
I hope it helps you all.
The market appears to be forming a double combination which is a zigzag-flat and in between, they're followed by a neutral triangle as an X-Wave.
so if the market unfolds the flat pattern and the C of the Y-Wave behaves impulsively the flat would be the best scenario for now, if not the pattern could change in to shape of a triangle or other time-consuming patterns.
considering the existing scenario correct, as time specifications are plotted on the chart, C-Wave of a flat would normally take 61.8% of the time consumed by waves A and B summed up or it will take 161.8% of the time of wave A in the undergoing case
Segment Y would often have 61.8% of the W-Wave in terms of price and would take a longer time In comparison to sagment W and the retrace after the WXY pattern is completed would be around 61.8% of the whole rally
it's just a general idea of where the market is and how it might behave
I hope it helps you all.
Note
Since the wave one of the ongoing rally took shape as a correction (which seemingly is diametrical) the scenario of the flat as for ending the pattern failed and the whole Y-Wave would take shape probably as a neutral or contracting triangleremember the time and price boundary of wave C still firmly applies but the final change in price direction (which is shown as a purple arrow) would be postponed for another time in the future
Good luck
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