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ANALYSIS
Although the Euro (now at 1.181) is retracing down to 1.1773-1.1762 in the very short term (1-hour chart), it should be able to resume its limited uptrend to 1.1932 in five waves (4-hours chart). At that level, the dominant downtrend (daily chart) will resume its course to 1.1459.
ELLIOTT WAVES
The monthly chart reveals that the EURUSD is presently unfolding a wide wave-four upwards, which is usually a very articulated a-b-c. Given that wave-a is complete, we now need to focus on the trajectory of wave-b.
Wave-b should drop the Euro to 1.1220. This should be followed by the wave-c rally to 1.24, although the final theoretical target is actually 1.3016. The blue horizontal lines mark the possible targets/supports/resistances.
The weekly chart shows that wave-b has already started its way down from the top at a. See the targets at 1.1459 and 1.1220. The blue line at 1.0889 is actually a Fibo Cluster and a very possible target too.
The daily chart displays the possible tops at 1.1930-32 which will be followed by the lows at 1.1327-1.1299 and 1.1220.
The 4-hours and the 1-hour charts reveal the short term lows at 1.1773-1.1762, followed by the top 1.1932-34.
Monthly chart, click to enlarge
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hours chart, click to enlarge
1-hour chart, click to enlarge
Please subscribe this newsletter. You will get next feeds straight onto your mail box. NOTE: I won't be able to see or retrieve your email address.
ANALYSIS
Although the Euro (now at 1.181) is retracing down to 1.1773-1.1762 in the very short term (1-hour chart), it should be able to resume its limited uptrend to 1.1932 in five waves (4-hours chart). At that level, the dominant downtrend (daily chart) will resume its course to 1.1459.
ELLIOTT WAVES
The monthly chart reveals that the EURUSD is presently unfolding a wide wave-four upwards, which is usually a very articulated a-b-c. Given that wave-a is complete, we now need to focus on the trajectory of wave-b.
Wave-b should drop the Euro to 1.1220. This should be followed by the wave-c rally to 1.24, although the final theoretical target is actually 1.3016. The blue horizontal lines mark the possible targets/supports/resistances.
The weekly chart shows that wave-b has already started its way down from the top at a. See the targets at 1.1459 and 1.1220. The blue line at 1.0889 is actually a Fibo Cluster and a very possible target too.
The daily chart displays the possible tops at 1.1930-32 which will be followed by the lows at 1.1327-1.1299 and 1.1220.
The 4-hours and the 1-hour charts reveal the short term lows at 1.1773-1.1762, followed by the top 1.1932-34.
Monthly chart, click to enlarge
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hours chart, click to enlarge
1-hour chart, click to enlarge
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