Ready... Set...

Looks like wave E is finished, turns out it's a bit shorter then I thought. Price action since the end of wave E looks impulsive, setting up for the allmighty wave 3 of 3. Price needs to stay above 1.3624.

Moment of truth

We are close to the end of the wave B triangle now. The last wave, wave E, should finish later tonight and will present a nice bullish opportunity.

wave B(oring)

Price failed to make a new low in a wave c. Since we are in wave B, I think the best way to count it would be a triangle.

So far price has followed my projected course. Price should now go lower again to probably test the 76.4% fib.

Last update for the week

It is still possible this is wave 2 of C, but for now i'll be counting it as bigger wave B. This wave B could be finished allready but compared to the time taken by wave A this is very small, i prefer to see wave B take more time.

NFP today

Looks like the euro did make a nice 3 wave drop yesterday, testing the 61.8% retracement. Since it is in 3 waves, the 2 possibilities that seem most likely to me are :

Wave 2 of C just finished and we are heading higher fast in wave 3.
Wave C was the end of a bigger 3 wave pattern, now labelled A and the 3 wave drop was a of B

Price action since the wave B bottom has been hard to count, however as time passes the waves become clearer. Wave C looks like it's finished, there are however a lot of possibilities as to where this fits into the bigger picture. It could be wave 2 of 5, which would mean new lows. It could be the end of a bigger wave A. It could also be wave 1 of C. Or be part of a more complex combination. The short term trend however is down. Expect lower prices today.

Riding the waves

Adjusting the count as we progress higher.

The drop that never came

Now that 1.3665 has been broken, i'm forced to change my count. The best possibility is that we are now correcting higher in a wave C.

Ready to drop?

Looks like the triangle scenario is playing out. Now looking for wave iii of 3 of 5 to start. Above 1.3665 this count becomes invalid.