The bearish reversal which started back in February 2018 for EUR/USD has been labeled as a complex three-swings sequence in Cycle Wave X (blue). Its Primary degree sub-waves have been labeled as ABC (red), with Primary A (red) finalizing the sell-off with the end of May 2018.
Primary B (red) has been labeled as a Double Three structure, with its Intermediate (W)(X)(Y) (turquoise) sub-waves developing under a complex corrective sequence.
Primary B (red) could be classified as a possible Expanding Flat formation, with most of its swings complete, and with the last Intermediate (Y) (turquoise) awaiting to begin a bullish impulse and possibly complete the entire structure.
A bullish reaction could begin in an impulsive manner, from the 1.1380 or 1.1300 area, towards the vibration zone marked between the 1.200 and 1.2150 levels.
Primary B (red) could finalize at or around the 50-61.8% Fibonacci Retracements of Primary A (red), with a possible Head & Shoulders formation.
Primary B (red) has been labeled as a Double Three structure, with its Intermediate (W)(X)(Y) (turquoise) sub-waves developing under a complex corrective sequence.
Primary B (red) could be classified as a possible Expanding Flat formation, with most of its swings complete, and with the last Intermediate (Y) (turquoise) awaiting to begin a bullish impulse and possibly complete the entire structure.
A bullish reaction could begin in an impulsive manner, from the 1.1380 or 1.1300 area, towards the vibration zone marked between the 1.200 and 1.2150 levels.
Primary B (red) could finalize at or around the 50-61.8% Fibonacci Retracements of Primary A (red), with a possible Head & Shoulders formation.
