EURUSD Triangle Potential Thrust to Parity in May 2015
If the triangle unfolds along these lines (inversely similar to the present action in the USD Index), it would imply a thrust toward parity between the Euro and USD in May.
The estimated minimum downward post-triangle thrust from the peak of hypothetical wave "E" would be a distance of $0.06561, based on the present shape of the triangle. However, that will need to be recalibrated if "C" moves any higher and also based on the actual low of hypothetical wave "D".
Hypothetical "E" could undershoot or overshoot the triangle's upper trendline, and its endpoint would be the starting mark for the downward thrust.
Note that the .786 retracement of the entire rise from 2000-2008 would be reached at about $0.99.
The estimated minimum downward post-triangle thrust from the peak of hypothetical wave "E" would be a distance of $0.06561, based on the present shape of the triangle. However, that will need to be recalibrated if "C" moves any higher and also based on the actual low of hypothetical wave "D".
Hypothetical "E" could undershoot or overshoot the triangle's upper trendline, and its endpoint would be the starting mark for the downward thrust.
Note that the .786 retracement of the entire rise from 2000-2008 would be reached at about $0.99.
