Now EUD looks tasty

My last entry on EUD versus SGD in Fevuary was quite negative. Eventhough the indicators are at the bottom, for some reason, I still hessitated. It turned out I was right then. So can I consider this intuition?


Fig 1 EUD Versus SGD Weekly Chart

Looking at the chart again, this time, EUD looks more tasty to me. The indicators are all turning up with divergence to the currency. Better yet, it has a 5 wave formation. The only thing I find concerning is that the 5th wave is a little short.

However, with such a 5 wave downward, I can safely note that the next wave would be a zig zag B with retracement of probably 61.8%?