Today was a holiday for virtually all trading markets, so nothing has changed with our previous analysis. We’re reproducing it today as a reminder to prepare for when the markets re-open. And of course, we wish you a merry Christmas and a happy new year!
As expected under the main count, the euro moved towards the downside to reach our first target and exceed it by 8 pips. And as the holidays grow nearer, we should expect slow price movements with only a few volatility spikes over the coming week.
We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.