Currencies » Euro turning points March and May 2016

Martin wrote on Feb 28th

Zitat

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Our target for a turning point was February. That appears to have been accomplished during the week of the 8th. .....
... We still need to look forward into March and May for turning points.

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note: Martin says Feb, March and May are turning points, no mention of directional changes which may behave slightly different. Unfortunately Martin didn't post the monthly array itself.

from the monthly chart I find it difficult see where April and May is heading to.



Option 1: from the daily chart I would say that Feb was the high, March the low and May should make the high. But if May would make another high, then we are probably looking into the 116 level. Martin also said that the Euro would most likely not break before May.



Option 2: Another way looking at this . I think this would better fit with what Martin says about the 116 level and that it's not likely going up to that level.
What do you think? Which option might play out into May?
Going only by the arrays I tend to choose Option 1, also because a turning point with low in February is hard to justify when looking at January. Option 2 would better fit to what Martin says about the direction which the Euro should take in the coming weeks (down). So it's a bit of a conflict here for me.

Zitat von pinky

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This week is a directional change based on this: https://www.armstrongeconomics.com/futur...-near-collapse/ However I am not sure if this date still stands, since it's almost 12 weeks old!

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since the Euro elected a weekly AND monthly bullish last week, I would say that there is a good chance that this dir change still stands and it will be a break out to the upside.
Maybe the video that MA has announced will talk about that.
Nonfarm payrolls on Wednesday will be interesting, yes, and maybe volatile - as usual.

In regards to my analysis above, it seems like option 1 plays out and the monthly array is correct and possibly produce a high in May. The only risk is a failing Brexit which may send the Euro further up in June.
The target for the collapse of the Euro was March. Maybe that has to do something with the Brexit vote.
I'm really curious to see if the array will get the Brexit situation right. That would be sensational. But I guess the array is not capable to take into consideration such events, although I'm not too sure about that...