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Friday, October 21, 2016

10.21.2016 EURUSD long term count

Decision point?

The count down from the green C is open to multiple interpretations.

The worst case scenario is a multiple 1-2 sequence such as

1-2-(1-2(1-2-3-and now in 4  (or 4 already finished)

Looking at various positioning data from broker outlets, one can see, that the crowd went long around two weeks ago, just in time for the EURUSD to drop.

Positioning data do not show extreme bullishness so the drop may go further.

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