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The European currency performed the plan in 100%, which I wrote about from almost the beginning of the correction. When EU leaders announced a currency that was too strong, I suspected that it would not be a drop by a few pips. The completed formation gave an ideal opportunity to enter. There was a rebound, and a correction to half the rebound. We did not have to catch the bottom because investors were very technical. Now I face a small dilemma as the increase has been relatively large so far with no major adjustments. We can see the level of local OverBalance from a downward move. I am not convinced by this formation for a simple reason – the weakening dollar. Additionally, with each small drop, the transaction volume is lowered, and each bounce means more turnover. I am waiting for the situation to develop.
