View: EURUSD: Follow Up of the Short Term EWP | The wave trading

Last Wednesday I mentioned that

“……….. If the current resistance area located at 1,2622 is breached with an eod print, I would not rule out another “surge” towards the next resistance located in the 1,2750 area.”

I also showed 3 potential short term EWP within a corrective Double Zig Zag (Countertrend move) off the July 24 low.

Today the option of an Ending Diagonal wave (C) is the “front runner”.

It is still a “project” but the two corrective 3 –wave up legs off the August 28 higher low at 1.2462 are fitting well with the idea of a wedge.

If price is really involved in a Ending Diagonal we now need a pullback with an overlap below 1.2638 followed by a last corrective wave up (within a converging structure)

There is no need to remind that if SPX is approaching the end of the move off the June 4 low it is IMPERATIVE to have a reversal of the EUR.