Bearish View :

Yesterday’s 3.6 percent countertrend rally of Euro, could have completed the second wave of Minor-degree wave D down of the triangle wave (B). As noted in the prior posts, Euro would still remain in the process of correcting in triangle wave (B) over the months ahead.

The current decline in wave D would eventually achieve the Fibo 0.618 expansion level at 1.06468, in a three-wave sequence. (wave D = 0.618 wave B, a common relationship between the same direction subwaves of a triangle.)

EURUSD - Daily

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