Euro the Down is Finish at 1.1899??? After touch the floor in 1.1899, a strong up took place. The last leg down 5 or ((a)) have the same length than the first leg labeled as wave 1 or ((a)) as shows the daily chart (this happen when the third wave is an extension). But is the downtrend really finished, or the past week strong recovery of the euro is only a correction. If we see the candles of the past week, we can find a star and an engulfing, as signals of change in the trend, and the stocastics in the daily chart shows a bullish divergency during the development of this last leg. The Blue couting shows a wave (A) finished with a fifth fail, it means that the wave couldnt to establish a low below the wave 3 bottom. The strong recovery and the break of the 20 days MA, are signals of a possible reverse in the trend and the beginning of the wave (X). The first wave A is on way, and the first subwave ((i)) is being retraced by ((ii)). The Red counting shows a wave (X) flat in progress, where subwave B is on way. The first leg ((a)) is finished and is being retraced by ((b)), possible finished in 1.2205.