The euro had quite a busy day. After spending most of it moving slowly and sideways within a 50-pip range, it suddenly pushed upwards, invalidating our alternate count by less than 1 pip, before immediately reversing downwards to invalidate the main count as well, and to move consistently for about 160 pips.
While this movement may seem chaotic, it actually revealed a clear pattern, which will be the focus of our analysis today.
We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. And as usual we’ll use each count’s invalidation point as confirmation of the other count.