EU has been moving in a very strong uptrend since last year and has provided a beautiful and clear 5 wave motive structure. We are currently in the final stages (until proven otherwise) of the corrective strcture which usually comprises of 3 waves. I am looking to capitalize on these dying stages of the correction whilst waiting for a clear structural indication of the formation of a new major impulse move.
Targets:
- 1.16100 - 1.14850....... - 1.12850.......
The last two targets are not of high priority structurally, but, they are still valid correction targets. (should the overall corrective structure become complex.) I will post a lower timeframe view below. Do stay tuned in for the trade's updates as time goes on.
Let me know what your view is on this one in the comments section below. I would love to learn about some different perspectives, especially fundamentally related ones.
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Could the overall trend be over? The coming week should provide some structural clarity