$EURUSD - Approaching A Significant Bottom
Currencies are know for being cyclical, EURUSD is no different.
There has been much hype about he recent parity and eurusd trading below 1.0000 to the dollar.
What goes down must come up at some point.
The decline has been strong and extended from an Elliott Wave perspective but my preferred count suggests a bottom is near.
There are a lot of extensions within the sub-waves but i count 5 intermediate waves to the downside as almost complete.
This count suggests that eurusd is in wave (5) of wave ((C)).
A break above 1.0368 will be the first sign that a bottom may be in.
There has been much hype about he recent parity and eurusd trading below 1.0000 to the dollar.
What goes down must come up at some point.
The decline has been strong and extended from an Elliott Wave perspective but my preferred count suggests a bottom is near.
There are a lot of extensions within the sub-waves but i count 5 intermediate waves to the downside as almost complete.
This count suggests that eurusd is in wave (5) of wave ((C)).
A break above 1.0368 will be the first sign that a bottom may be in.
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