Since the beginning of this year each three waves movement in the euro daleyed aprox one month, that means, one month down in three, one month up in three, one month down in three, and now, if this pattern is labeled correctly as a triangle, will make one month up as wave ((d)) within a symmetrical triangle wave 4. This wave ((d)) is now in progress, in the chart is the blue alternative, where the first wave (a) topping in 1.3124, being corrected the past week by (b), adding a total of seven waves down, inside a downtrend channel, bottoming in Friday at the 0.764 of (a) or 1.2852. The break of the wave b top at 1.2978, advice us about a possible reversal in the trend and that wave (c) is in progress.
The bearish counting show the first wave (i) within ((c)), of the large double zig zag Y inside (W), with a target in the lower line of the descending channel.
The bearish counting show the first wave (i) within ((c)), of the large double zig zag Y inside (W), with a target in the lower line of the descending channel.
