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. 

EUR/USD - Wave C of wave Y in progress

As I mentioned in my previous post here the break of 1.1160 invalidated my bearish count. The pair went up and it appears EUR/USD is now in the C-wave of larger degree wave Y.

I'll watch closely what happens at 1.1318, it could be a target for wave Y to be complete (C=A).

Large picture here

EUR/USD - 1.1160 was the end of my smaller degree bearish count

The break of 1.1160 made the move from 1.1233 to 1.1045 a three-wave structure so I killed the trade at 1.1160 . But the larger degree wave structure still suggests more gains for the dollar, however the EUR/USD might make more gains short term. I don't like large drawdowns so I wait for this rally to end and would consider a new short trade later on.

EUR/USD - 5-week correction near completion

Since June 24th EUR/USD seems to be in a flat correction. What initially looked to be a triangle has now all the characteristics of a flat and is this pattern is near completion. On the faster charts one more high could be seen before the next decline will start.

The  larger picture is still intact (chart created on July 20th).

EUR/USD - Expanded flat, back to the trendline ?

The break at 1.0980 (wave "(1)") occurred in 3 waves so I regard this as an expanded flat in progress and the trendline looks like a target for wave "2" to complete.

EUR/USD - More downside to come now triangle is broken

EUR/USD broke out a wave B triangle and is now heading towards 1.06, the bottom of a larger degree wave 4 triangle. Now probably correcting in a minor wave 2 to the bottom line of the broken triangle.

EUR/USD - Triangle is probably complete

As long as we're below  1.1097 I believe the triangle is complete and a wave 1 has started. A break below 1.1025 would confirm this and I'm targetting initially 1.06 (the bottom of the larger triangle we're potentially in,  see weekly chart). And later on we should see new lows (below 1.04) because we are in a larger wave 4.  Above 1.1097 would delay this.

Larger degree:

EUR/USD Wave B may end near 1.1430

Within a larger degree correction, wave C of wave B might end at 1.1430 (C=A). This B wave can still be a triangle though.