Irregular correction at eurusd has confirmed to be true. CHF though looks crookedly, but too it is possible to find out in it irregular. The euro will go above, oil, gold, cross-currencies push eurusd upward. Actually all European and not only European currencies work now against dollar. USD/MXN, USD/HUF have shown already new global bottoms.
newtrader22
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that's very high quality stuff. Thanks. one question though.in your C 4 overlaps 1 which is not permitted . must be a diagonal.
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Yes, this is a diagonal
Probably, today we shall see continuation of movement. In my opinion, lead-in waves on 4h, directed in the conforming sides, have all majors already. 1-st target at eur 1.61, 2-nd - 1.6350. Crude Oil has arrived to 145 and it had enough aggressive picture on 4H/D.
I continue to define big similarity formed on 4Н euro and gold structures and it gives to more confidence of correctness to a marking spent till now. Judging by characteristics of decreasing wave formations, both eur and gold it is necessary to construct downwards on one wave. Correction of 4th wave, as I guess, it is possible to consider already ended, but also correction transition in other model also I consider admissible. Significant levels which can be defined how final target of wave "C" is 1.4550, 1.4460, 1.4380. Last two most powerful. About deeper targets to speak now it is premature.
As I guess, the termination of building of a wave "c" and together with it all corrective pattern will take place in the beginning of September or in its first half. After ending of formation of corrective pattern the euro will begin the new stage of growth in a direction by 1.65 and further in area 1.70.
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