Euro Dollar Daily Chart

This week despite 800 pips down from top 149.xx I am still with bullish daily trend. At the moment the bullish daily count reach their important junction to invalidate the count. Even breaking the classic trendline for a continuation of bullish as many noted. I still accept that wave 4 could retraced to the level of extreme of wave iv ( one lesser degree, and in this case as the wave 3 was in extension I take wave (iv) extreme as acceptable level).

To invalidate the count of 3 wave 4 should not reach the extreme of wave 1 which at 138.45. And if the converging move a few days ago was a leading diagonal, most likely the retracement is deep and reach 0.786% or near 1.4115 ( last low was 1.4130.) After that a wave iii will bring higher than 140.43 and make this probability to almost truth.

Even not so genius to be bullish at this time, I still with the count until proven otherwise. Stay flexible, and if the move break the low 140.45 an alternate count will be preferable.

Daily chart reviewed as below:

A more zoom to 4H chart is here,
A break of the blue trend line most probably invalidate the count.

Best regards,
Azamli Nawi aka exsanova salvatore dondouva d'angelo.