My last prediction has the wave-c traveling a lot further south. Unfortunately, the wave-c failed to reach beyond the wave-a (expected an expanded flat) in the wave-X position.
This oscillation has created a range with lower highs and higher lows. This is typically indicative of a wedge/triangle pattern and has changed my bias for EURUSD from reaching 1.2 price area to now turning and reaching 1.4 - 1.45.
At the moment, we'll have to wait for confirmation of the wedge by allowing wave-D to finish and watching the subsequent wave to move back towards the lower trend line. I have not determined the type of wedge this is besides that it is of the horizontal type. I doubt wave-c will be surpassed since the amount of time the wave itself took to not pass wave-a
In conclusion, it's unfortunate the fall didn't continue as expected and we were left with price basically going nowhere over the last few months; however, this leads to a much easier, identifiable analysis.
A break below wave-c would negate this pattern.
This oscillation has created a range with lower highs and higher lows. This is typically indicative of a wedge/triangle pattern and has changed my bias for EURUSD from reaching 1.2 price area to now turning and reaching 1.4 - 1.45.
At the moment, we'll have to wait for confirmation of the wedge by allowing wave-D to finish and watching the subsequent wave to move back towards the lower trend line. I have not determined the type of wedge this is besides that it is of the horizontal type. I doubt wave-c will be surpassed since the amount of time the wave itself took to not pass wave-a
In conclusion, it's unfortunate the fall didn't continue as expected and we were left with price basically going nowhere over the last few months; however, this leads to a much easier, identifiable analysis.
A break below wave-c would negate this pattern.