Hi Traders,
The Euro (now at 1.085) is in the target area (1.0917-1.0759) - see bottom-right, wave "e" in the monthly chart. Hence, it might rebound to 1.0970 (see 1-hour chart) before resuming the downtrend to the area 1.0419-1.0365.
TARGETS
First up to
likely: 1.0970
possibly: 1.0986-1.0988
maybe: 1.1113
then down
possibly: 1.0419-1.0365.
maybe: 1.0206-1.0104
ELLIOTT WAVES
It's hard to count waves when the movement is so sharp and the waves are not properly well defined. However, the daily chart shows that the Euro should move further down in nine waves.
Monthly chart, click to enlarge
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hour chart, click to enlarge
1-hour chart, click to enlarge
The Euro (now at 1.085) is in the target area (1.0917-1.0759) - see bottom-right, wave "e" in the monthly chart. Hence, it might rebound to 1.0970 (see 1-hour chart) before resuming the downtrend to the area 1.0419-1.0365.
TARGETS
First up to
likely: 1.0970
possibly: 1.0986-1.0988
maybe: 1.1113
then down
possibly: 1.0419-1.0365.
maybe: 1.0206-1.0104
ELLIOTT WAVES
It's hard to count waves when the movement is so sharp and the waves are not properly well defined. However, the daily chart shows that the Euro should move further down in nine waves.
Monthly chart, click to enlarge
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hour chart, click to enlarge
1-hour chart, click to enlarge