Archives for February 2019

After managing to exceed the latest high by a measly 15 pips, the euro immediately dropped to retrace all of the day's advance, and then continue even below the trading range of the day before. On the daily chart, this is represented by a candlestick that's both a bearish engulfing pattern *and* almost a gravestone doji. Again, I find myself having to repeat that our most recent count is probably the most fitting one: the underlying weakness of the rally and the general tendency of our current wave count strongly suggest that a sizable decline shouldn’t be too far away now. Read More

The euro is clearly having quite a bit of trouble trying to pierce through the trend-line support, established by the rising swings of the current corrective advance. On the other hand, price barely managed to poke above the mid-line of the channel, let alone come close to its upper trend-line. All in all, I still find our most recent count to be the most fitting one: the underlying weakness of the rally and the general tendency of our current wave count strongly suggest that a sizable decline shouldn’t be too far away now. Read More

As expected the euro continued moving toward the upside and has come 4 pips short of reaching our target. Whether or not this corrective advance is over remains to be seen. That said, the underlying weakness of the rally and the general tendency of our current wave count strongly suggest that a sizable decline shouldn't be too far away now. Read More

Moving slowly and with apparently no real intent, the euro came very quickly to hitting our confirmation point, but it hasn't reached it (much less its associated target) just yet. The analysis remains exactly the same for yet another day. Read More

The euro nothing other than fluctuating within a very tight range of less than 40 pips, leaving our last analysis almost exactly the same. Read More

As expected the euro has been moving generally toward the upside, and it has already reached and exceeded our first target. It appears that price is still headed toward our second upward target as well. The labeling on the most recent price action is not set in stone, but it presents a very reasonable count that fits both the larger pattern as well as the general technical picture. Read More