Hey Traders! We have been in a sideways correction on EURUSD for over a week now. The wave count suggests that were looking for a bullish rally into impulsive wave-((C)). This will be a five count wave and should be swift and powerful. If this is the case, then the smaller impulses leading to this wave were a series of ones and twos and could unleash a series of threes toward target. If invalidation level is hit, this is not the case and we will need to recount.
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Big bearish move invalidated this trade since no rally/pullback opportunities were given. I'm looking for a few opportunities coming up. Check out the updated wave count:
