This is my preferred longer term count for the Euro: a bearish leading diagonal for Primary
(burgandy) wave 1. Each wave of the diagonal appears to be a zigzas, so, inside intermediate (black) wave 5 down, I believe we've seen Minor (blue) waves A and B complete. All thats left is five Minute (pink) waves down for Minor wave C (blue), eventually reaching the target zone of 1.18754 to 1.10133 around October. The reason for the upper level of the target zone (1.18754) is because wave 5 of a leading diagonal must reach beyond the extreme of wave 3. The reason for the lower target number (1.10133) is that in a contracting diagonal, wave 5 must be shorter than wave 3.
Greetings! My name is Sid, and welcome to my blog. Sid's Charts is essentially a diary of the forex and futures charts I trade from every day. Each chart will typically include carefully considered Elliott Wave technical analysis, trendlines, MACD, and Fibonacci targets. Accompanying each chart will be additional explanations, commentary and predictions. Also included here are numerous links to many of the best trading education materials available. Enjoy, and thanks for visiting!