The EURUSD pattern may be clearing up (fingers crossed). I wrote Thursday that “it is still possible that the rally from 1.3750 is unfolding as a diagonal. Staying above 1.4000 keeps this count valid. However, there are numerous bearish counts that would result in price dropping below 1.3750 (one shown above). Coming below 1.4000 would favor the downside.” While a triangle is possible from above 1.4300, so too is a flat (price would come under 1.3750). It is also possible that a significant top is in place above 1.4300. Near term structure is bearish against 1.4030.
