Euro Breaking Out

Commentary: At this point, there are a number of patterns that may be playing out. A large correction may be playing from the 1.4281 high, perhaps a flat or a triangle.

Under this scenario, price is likely to top soon and head lower - below 1.4015 in the case of the flat. However, the 3 wave correction from 1.4241-1.4144 suggests that upside potential remains. In summary, the count is not too clear at this point.

Strategy: Flat