The attached 30min EUR/USD chart shows a 5 wave decline following a larger ABC correction I have as a wave 4. The recent 5 wave drop implies the downtrend has resumed and that a new low beneath 1.4216 will happen soon to complete the entire 5 wave decline from the daily highs (click here for yesterday's 8hr chart count)
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.
3 comments:
i think we are in an ABCDE triangle or rectangle correction. I don;t see the eur/usd heading down for another couple of days. I gage this by looking at the counts on the indices.
I wish it were true, but I think you are bit early if expecting it to happen tomorrow.
Of course I could be wrong too.
A triangle is certainly possible, especially because the pair is in a 4th wave right now. We'll know soon enough. If the pair treads sideways the rest of the week then you're probably right.
Todd
Hello people:
Now 1.4336, may be Todd was right with his advice.
If we have new minimums...one time in the life.:-)
Regards.
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