Euro Bottoming or Beginning a Decline???

[bulls&bearsfx]

Euro Bottoming or Beginning a Decline???

The last week finished with a very strong decline expected by our lastest countings. This fast leg down can be labeled by the both alternatives the bullish (blue color in the chart) the bearish (red colour in the chart) as follows. Both have the same confidence the break of the very important support given for the lower line of the triangle the 1.2767 low confirm one against the other. The Blue counting shows the wave 4 in progress as a symmetrical triangle where the first three legs of the pattern are finished; this are ((a)) - ((b)) ((c)) being the wave ((d)) in progress. Within this wave ((d)) the wave (a) finished with a top in 1.3124 that is being deeply corrected by the wave (b) bottoming in the support area of the lower line ((a)) - ((c)). The break of wave b confirm the end of wave c the start of wave ((c)). The Red counting shows a double zig zag wave (A) that began in january of this year. The second zig zag Y is in progress unfolding a wave ((c)). The first leg of this wave was finished at 1.2828 pullback by (ii) at 1.2987; then the strong decline of the last friday was the first swing of a powerfull wave (iii) with a target under 1.25. The charts speak by themselves.

Euro Weekly Forecast Elliott Wave Analysis (edited by Matias Menendez Larre)

[q827]

I don't know. I tend to go with the majority expert opinion on such matters.