As expected the euro moved toward the downside and came only 3 pips short of reaching our first target. It seems that the first two phases of this correction are now complete, and only the last one remains.
As expected the euro moved toward the upside to reach and exceed both of our hourly targets. What wasn’t expected was the speed and aggressiveness of this rally, which pulled prices up almost to the first target of the daily count. At such an early …
As expected the euro moved toward the downside, reached our first target, came only 1 pip short of reaching our second target, and then started to rally slowly but very consistently.
As expected the euro moved toward the downside, reached both of our targets, and exceeded the second target by 18 pips. After half a dozen weeks of nearly continuous decline, I think the euro is finally preparing a significant bottom.
As expected the euro moved toward the downside and passed our initial confirmation point, but it’s yet to reach either of our targets.
As expected the euro moved toward the upside, reached both of our targets, and exceeded the second target only by 2 pips — then immediately dropped 60 pips.
The euro suffered a relatively strong continuation of its recent decline, forcing a revision of the low-level hourly count, but remaining quite consistent the larger picture of the daily chart.
Now that the euro has fallen below 1.1192, it’s become much more likely that the sideways correction of the past week or so is now complete and a new round of motive decline has begun.
The euro continued its most recent decline for most of the day, but its action remained away from our invalidation point, which leaves our latest count very much the same.