Elliott Wave Analysis & Forecast, EURUSD, H4, 20160121
We slightly changed our view in short term as correction that converted into double zigzag or might be triple zigzag but our long term view is same, refer to my previous EURUSD H4 Post.
In my view red wave 2 is not ended yet and it consist of double zigzag which will end soon and new impulsive decline will start. Recall your mind in Elliott wave principal in which wave 2 can retrace up to 100% of wave 1 and there is also chances that it formed double zigzag instead of three as triple zigzag mostly occur in 4th wave and it is rare in wave 2. I will wait until any bearish pattern appear in daily chart enabling me to enter short.