Elliott Wave 5.0 "Reboot"

Tuesday, February 9, 2016

Checking The Euro Daily Chart, Will The Bull Run End?

The entire rally with the Euro started back in March 2015 and a new record low has not been created  since then. All critical waves have overlapped each other so there is no way we can ram or force this into a true Elliott Wave impulse count.  

This could end up piercing my top trend line and even breaking into a new bullish high. This could happen in a flash or still take some time to play out, or not even get that high, before it turns and crashes one more time. 

I see this as a 4th wave triangle and heading up to an "E" wave top.  This entire pattern looks much like oil did back in the 90's, except in a much shorter time frame. 

If the Euro is still going to crash, then I would bet that gold will also see another major decline as well.