This main hourly count sees that pink wave iv is now unfolding toward the downside.
Until further data is available, we can’t really know which corrective pattern it’s going to take. But for now I’m assuming the simple case of a flat correction labeled green waves (a), (b) and (c).
Green wave (a) formed a zigzag labeled orange waves a, b and c.
Green wave (b) may reach all the way up to (or even a bit beyond) the start of green wave (a) at 1.2323.
This count expects the euro to continue moving toward the downside in green wave (c) to complete pink wave iv. This will be confirmed by movement below 1.2165.
At 1.2091 pink wave iv would retrace 38.2% of pink wave iii, then at 1.2020 it would retrace 50% of its length.
This wave count is invalidated by movement below 1.1961 as pink wave iv of this impulse may not enter the price territory of pink wave i.