EURUSD - Looking for a new temporary low

We might have completed a complex ((wxy)) correction of higher degree wave b of (b).

When price falls hard as it just did from 1.149, it indicates the upside move might have ended.

In that case, we are now in wave c lower, wich, ideally should unfold in impulsive fashion (5 waves to the downside).

I believe we finished wave 1 down, and are now in wave 2 wich should come to an end now and should hold below 1.1497.


For higher and lower degree charts looks at updates
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Daily Chart

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1Hour Chart

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Today is NFP Day, the data should come in less than an hour !

155K was previous and we expect 177K this time.
If those numbers are better than expected, we should then see a strong USD and accordinly see EURUSD go down below 1.13.

The bearish count remains valid as long as we stay below 1.15.

Kommentera:

NFP data was nearly twice the consensus, with US gaining 312K jobs in December, far above 177K.
We can see US strenght now in this pair, as price is falling.
Price broke below the lower channel line also, wich confirms the downside continuation.

Kommentera:

Price went up again because of Powell's stance.
We might then see a complex WXY correction before any move to the downside.