EURUSD may be in the middle of a developing wave 3. The long slow range we had over many years has been broken and if this was just a holding pattern in a developing trend then the EURUSD downtrend could become extreme. It would have to be at least as strong as the downtrend from the high (Which seems like forever ago now) and during this it was really easy to make money shorting this. I was quite new to Forex at the time and was making a living during this move (Ran into some serious issues it bounced. I thought I was a genius, turns out I was a trend follower on a run).
If this is happening and we're in wave 3 now although we will see many fierce bounces on the way down, on the larger charts this is going to keep making lower highs and lower lows. There will be many exceptional opportunities in EURUSD short over this move.
A move like this is in the USD would probably mean very ugly moves in risk assets.
If this is happening and we're in wave 3 now although we will see many fierce bounces on the way down, on the larger charts this is going to keep making lower highs and lower lows. There will be many exceptional opportunities in EURUSD short over this move.
A move like this is in the USD would probably mean very ugly moves in risk assets.