As you know my working count suggests that the fall started from 1.4339 (3 June) is wave 4 of a terminal impulse (ending diagonal). My wave count for it is presented on the chart. When the triangle in the position of wave B of 4 is over, I would expect a sharp fall in wave C with minimum target 1.3738 and most likely target 1.3500. A confirmation for this idea will be below 1.3833. A key resistance is 1.4200. With an eye on my bearish expectations I stay on the short position opened last week.
Trading strategy: 03:34 EST; 08:34 GMT
Short position from 1.3999, stop loss - 1.4205, target € open
This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.