The latest movement of the euro is quite in tune with our view, but it’s still not definitive. At any rate, both of our most likely counts today don’t expect very strong movement.
The euro moved downwards as expected and has reached the low of what we labeled as an ending diagonal at the end of this upwards correction. The downwards movement that came afterwards, however, does not yet look motive – although it could be a leading diagonal, which would explain its overlapping look.
We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.
P.S.: I’m extremely sorry for this unforgivable delay, but I was trying my best to fix my workstation and I just managed to get it back to work.