Time for some US Dollar weakness?

Here's a look at the daily chart of eur/usd. My main count for the decline is a 1-2-3-4-5 , which should put price in the early stages of a multiweek corrective (a-b-c) rally. The alternate count (in red) is an ABC, price will rally much higher if this is the correct count.

Rise of the dead euro

Wave A has allready finished and wave B looks to be near an end ( or wave a of B is near an end ). I'm expecting higher prices for the rest of the week in the form of wave C.

Is the euro dead?

Wave 5 of 5 seems to be complete. This is however a very dangerous place to pick a bottom. There is a lot of momentum to the downside, so I'm waiting for signs of a reversal. A sign of reversal could be in the making in the form of a hammer candlestick if price closes the day around the current level (or higher). Also, there appears to be a sentiment extreme for the euro. The news, analysts, etc are declaring the euro dead. This is another sign of the euro being near a bottom.

Gbp/Usd and Eur/Usd

Here's a possible count for Gbp/Usd :

Which makes me think about this count for Eur/Usd :

Wave 5 still not finished?

Wave 4 didn't overlap any of wave 1 so the count is still valid. The amount of time used by wave 1 of 5 compared to wave 3 of 5 is unusual, which makes me think that wave 3 of 5 isn't complete yet, maybe we have only seen wave i of 3 of 5 end. But for now i will stick with my count untill proven wrong.

1 more low?

Looks like wave 3 of 5 is finished. One more wave lower is expected.

Break and Test

Usd/Jpy seems ready to go lower and test the trendline.

The eurobear is roaring

Either this is the biggest B wave i've ever seen, or we're going lower. Here's a count which could eventually take us back to the 1.2300 region.

Pushing the limits of the B wave

If wave B ends here, there will be a nice double bottom. If price goes a lot deeper, i will have to adjust my count.