The eurusd pair has been trading since March 2015 what seems to be a very possible Descending Channel and a Complex Corrective ABCDE Structure which is very common for a Wave 4 in Elliott Wave Analysis. Recent comments on monetary policy from Mario Draghi pushed EUR/USD towards new yearly highs which is exactly what was needed in order to have the last piece of the puzzle for the possible Wave Count. If we take a look at the Weekly Chart we can spot what seems to be a Complex WXY Bearish Corrective Super-Cycle (orange). By zooming into the Daily Chart we can see that EUR/USD is probably painting an Elliott Wave Sell Set-Up which would be very attractive for Bears.
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