We saw a very strong week in the EURUSD .
I believe we should get a small correction and a sharp wave 3 in green. Ultimately we should get a 5 wave structure which will form a wave (c) in red and complete wave 4. This move up should find resistance at the last wave iv in green which has is a triangle.
After this structure is complete we will see a move down (again in 5 waves) which will complete the 5 wave down move from May 2014.
Bigger picture:
If we look at the weekly chart we can see a ultimate target near the 1.02. Please click on the image for more details (I've chosen a to small font size - sorry).
Even bigger picture:
Lastly let's check out the monthly chart. Please click on the link to see the chart.
We see a 5 wave structure and a correction in progress. There we have 2 support areas. The first one is the price cannel and the second one is the 50% fibo retracement.
www.bilder-upload.eu/show.php?file=2ffbb...
I wish you wonderful trades and a good week!
PS: I'll keep you up to date!
I believe we should get a small correction and a sharp wave 3 in green. Ultimately we should get a 5 wave structure which will form a wave (c) in red and complete wave 4. This move up should find resistance at the last wave iv in green which has is a triangle.
After this structure is complete we will see a move down (again in 5 waves) which will complete the 5 wave down move from May 2014.
Bigger picture:
If we look at the weekly chart we can see a ultimate target near the 1.02. Please click on the image for more details (I've chosen a to small font size - sorry).
Even bigger picture:
Lastly let's check out the monthly chart. Please click on the link to see the chart.
We see a 5 wave structure and a correction in progress. There we have 2 support areas. The first one is the price cannel and the second one is the 50% fibo retracement.
www.bilder-upload.eu/show.php?file=2ffbb...
I wish you wonderful trades and a good week!
PS: I'll keep you up to date!
