I watched the Euro $ go sideways all day yesterday and was tempted to scratch the trade many times . The four hour chart has finally proven its worth and the market broke as forecast by a coupling of Eva Mendez and Ralph Elliott. The mind boggles.

My entry short was 1.4150 and the euro$ is now trading at 1.4080. Lets get the stop to entry and sit a while. The old low is at 1.4027.

We now have a free bet .

Have a great trading day.

I posted a series of charts last week on the technical position of the euro $. Here i believe that the market is in the process of making a wave 1 down of a C wave .

Within this wave 1 down , the euro $ is charting an w5 of this w1. Within w5 of w1 there is a subwave of 5 waves and my analysis says that there is a w5 of a w5 of 1 of c to come . This is quite a mouthful i know.

I am waiting confirmation to short the euro$ and will get that with any luck at 800 am GMT.

Have a great trading morning.

David Paul