Overextended wave 5 of 5 is due in EURGBP, EURCAD, EURNZD
EURGBP shows more resistance than EURCAD and EURNZD. Same structure for all three starting March 2020, but in the latter two the green 1 and 3 are much more pronounced while EURGBP resists to the last dollar in traders' pockets.
Never underestimate the power of the last overextended subwave: At least a 1000 pips downside in EURGBP is still due, should take 5-6 weeks, and should happen together with the crash in treasuries & stocks, combined with a giant spike in DXY.
Keep in mind that all of this is predicated on the big move in treasuries: all currencies, crosses, stocks and all yield are are just waiting for a market event in US debt, and this event is approaching.
Never underestimate the power of the last overextended subwave: At least a 1000 pips downside in EURGBP is still due, should take 5-6 weeks, and should happen together with the crash in treasuries & stocks, combined with a giant spike in DXY.
Keep in mind that all of this is predicated on the big move in treasuries: all currencies, crosses, stocks and all yield are are just waiting for a market event in US debt, and this event is approaching.
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