Euro Daily Chart Bearish To The Bone?

 

The Euro repelled to the downside after  3-4 attempts at breaking out and is now threatening support. What I see is a potential triangle inside a 4th wave, which is also a warning that a bigger degree bottom is coming. I brought back my  Euro bearish wave counts, and if they are true then that does not bode well for the metals and gold stock ETFs that I cover.  Wishing that Gold will soar, has no hope of happening just yet because the Euro moves inversely to the US dollar.  What all this means, is that the Euro bear market is far from finished, and should hit new bear market lows. That may happen this year, as we have a lot of empty space below the present positions. It’s not completely empty space, as it contains more Euro futures stop-loss sell orders that we can count. It also contains any futures options positions that can expire on any Friday.

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