EURUSD is currently in a large C wave. We are almost complete with Wave 1 of this Wave C. Within this Wave 1 we have a 12345 sub wave, and within the 5th wave of that sub wave we also have another 12345 sub wave. We are currently in the 3rd wave of that 5th wave sub wave. So that means that once we finish this 5 Wave (pink), we have also completed the larger 5 Wave (blue), which makes up Wave 1 of our larger Wave C. So expect a retrace of most likely at least 0.5 times the length of Wave 1, for our Wave 2 in the future.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.