Sunday, October 9, 2016

EUR/USD - Dull pair might first move up before completing D-wave

After Friday's strong rally the triangle (on the 60m/240m chart) doesn't look that good anymore. Since it traded slightly below 1.1122, broke the triangle and subsequently rallied hard makes it imo more likely that we will see more upside first before the next decline starts.

Personally I think the best option is probably not to trade this bore at all for now, we're right in the middle of a larger correction.