If the Euro stays in this down channel then it should have one more move down pretty soon, and this will be wave 5 and when completed this will be wave 1 one a larger scale. If anyone is not familiar with fractals then you should be. Elliott Wave understands that the markets are fractals, (meaning that wave patterns are continuously playing out on every possible time scale simultaneously). On this chart chart I am posting, I only have 2 scales labeled. Anyway, enough rambling. This should stay in the channel for one more move down to around the 1.39 and then go back up somewhere in the 1.44 - 1.45 range, for wave 2 on the larger scale. The exciting part about that is usually wave 3 is the strongest wave of all, so after wave 2 finishes then it break down fast and hard. Fibo time is showing that will be happening about the middle of July.
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