Base on this bullish alternate count in the Intraday frame, the Euro should continue to rise in Minute wave c (circle) of Minor wave Y, before the end of entire correction as a double zigzag.
The bullish outlook is through the expected target at 1.18135, where the waves of Y and W are equal, while price holds above 1.08470.
The Minor Wave B Underway :
EURUSD will likely fall in Minute impulsive wave c(circle), to complete the Minor corrective wave B.
The short-term outlook is bearish through the 1.0650, while the price holds below the 1.1301 level.
The Euro has potential of going sideways in Minute fourth wave of Minor wave 1. The broader outlook remains bearish, while the price holds below the 1.1066.
Initial Decline In Minor first Wave Underway :
Euro is falling likely in Minor wave 1, which its Minute waves of i, ii and iii were completed, and its fourth and fifth waves lie ahead.
The outlook remains bearish now against the 1.1066 end point of the Minute first wave.
The Euro formed its top, very close to the anticipated 1.1464-1.1485 Fibonacci cluster targets, and has started its initial decline impulsively.
The outlook now is bearish against the 1.1472.
The Euro has registered its new high, as expected, and achieved the Fibonacci 1.1464-1.1485 cluster targets – as shown on the 600-minute chart.
The outlook tentatively remains bullish in short term through the 1.1535, where the fifth wave of Minor wave C equals the length of its first wave.
Note : I’ve explained the Minute wave iv (circle), in two alternate counts.
Bullish outlook :
The Euro is rising in anticipated fifth wave of Minor wave C, after completing its fourth wave. The outlook immediately is bullish against the 1.1207, through the 1.1464-1.1485 range.
Note : I’ve explained the Minute wave iv (circle), in two alternate counts. (see on these charts)
Bull trend in place but expect more sideways in short-term :
It appears that Euro’s potential is the same as the Dollar, but just flipped in opposite direction. The Minuette waves (a), (b), (c) and a part of (d) of a running triangle as Minute wave iv (circle) have been developed and its wave (e) down lies ahead.
The broad outlook remains bullish through the 1.1485, in anticipated rise in fifth wave of Minor wave C.
Bull trend in place but expect more sideways in short-term :
The Euro has retraced through about 38 percent of the third wave of Minor C, and so has potential to develop its Minute wave iv (circle) in sideways.
The broader outlook, however, remains bullish through the 1.1485, in anticipation of rise in fifth wave ahead of Minor wave C.
The bullish outlook :
EURUSD may developing in sideways on the current levels, likely in a triangle as the minute degree fourth wave of wave C.
The broader outlook could remains bullish in anticipation of the following rise in fifth wave of the ongoing wave C.
Elliott Chart 