EURUSD has been in a massive downtrend and it appears we are almost at the bottom. We are currently on the final bearish wave - which is made up of 5 subwaves.
We've recently seen a perfect rejection of the 618 fibonacci and we've started the final bearish push. We've seen subwave 1 and 2. We are currently in subwave 3. Expecting 2 more waves and then a major bullish reversal. EURUSD is inversely correlated with DXY, which has almost finished its bullish cycle. It would be a good idea to keep an eye on certain USD pairs such as Gold for a reversal correlated with EURUSD.
MONTHLY
The monthly chart shows a 5 wave move which has almost completed.
Keep a close eye on this. It's going to be a big one!
We've recently seen a perfect rejection of the 618 fibonacci and we've started the final bearish push. We've seen subwave 1 and 2. We are currently in subwave 3. Expecting 2 more waves and then a major bullish reversal. EURUSD is inversely correlated with DXY, which has almost finished its bullish cycle. It would be a good idea to keep an eye on certain USD pairs such as Gold for a reversal correlated with EURUSD.
MONTHLY
The monthly chart shows a 5 wave move which has almost completed.
Keep a close eye on this. It's going to be a big one!
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