Today was another unproductive day for the euro, where it began by moving towards the downside only to reverse and retrace most of that decline — although it failed to make a new high. This kind of whipsawing, overlapping movement is very indicative of corrections.
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 to confirm the other count.
It’s worth noting that both of our counts today have equal probabilities, and we’ll have to wait for further price action for confirmation.