Last Updated: Oct-11
This chart sees the euro within new trend to the downside. Upwards movement to the high at 1.6038 was in a three wave structure and so the main trend may be down.
Primary wave B was a 27% correction of primary wave A, and primary wave C was 297 pips short of equality with wave A. As primary wave C was 4398 pips this is just a 7% variation and so is acceptable.
Within the new downwards structure the first wave down is labeled primary wave 1.
The euro is within primary wave 3. Of that it has completed intermediate waves (1) and (2).
