EURUSD completed the formation wave [B] as mentioned yesterday. My short-term EURUSD Forecast is bearish. I am neutral waiting for the selling levels. Now I am expecting a move up for the completion of wave [C]. My medium term EURUSD Forecast remains bearish. I am working on two Elliott wave counts and both favour a bearish move in EURUSD. The pair is trading at the intraday support level it can move higher to complete correction. But I do not have any plan to buy it. I am looking for resistance level of 1.729 to go short on this pair.
Thank you for sharing your post and I think your count is very similar to what I am seeing that this current move is a flat with the current wave C in motion. The only thing I would suggest is that your wave (iii) from the top doesn't extend past 1.618% or any of the key fib extensions so I would be more inclined to think the current move is a sub wave 2 of 3 and wave 3 of 3 will start at the termination of the C wave impulse.
Thank you for sharing your post and I think your count is very similar to what I am seeing that this current move is a flat with the current wave C in motion. The only thing I would suggest is that your wave (iii) from the top doesn't extend past 1.618% or any of the key fib extensions so I would be more inclined to think the current move is a sub wave 2 of 3 and wave 3 of 3 will start at the termination of the C wave impulse.
Cheers
Don