As expected the euro moved towards the downside, reached both of our targets, and exceeded the second by 16 pips. The pattern has been unfolding so well that we’re now pretty confident the downtrend is complete.
Of course, we always want to be every bit as well-prepared as we are confident, which is why we’re still tracking our alternate count. At such an early and promising stage of price development, we need to see confirmation first, which is why both of our counts today present their confirmations as targets.
We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.