This Elliott Wave blog is dedicated to sharing Fibonacci ratios and other technical analysis for forex signals, index futures signals, options signals, and stock signals. Elliott Wave Principle puts forth that people move in predictive patterns, called waves. Identify the wave counts, and you can predict the market.
Thursday, April 16, 2015
EURUSD 30min
Looks like I was too early on the calling an end to the euro's correction so I had to relabel my wave count. The rally is in choppy overlapping waves so I have little doubt this is a correction. There is a confluence of resistance from the 61% Fibonacci level and the hasty channel I drew at 1.0837 that should cap the rally. We might get some volatility tomorrow morning with CPI data coming out, so a nice shot higher and reversal lower would be a good sign a top is in.
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.
Tuesday, April 14, 2015
EURUSD 15min Tuesday
The euro is playing out as expected, more or less. I count a nice 3 wave move, ending with an impulsive wave "c" and stalling at the 50% Fibonacci retracement level. So the correction could easily be completed right now. If so, the euro should be headed down immediately and not come near the 1.0812 level, which is the wave i) extreme.
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.
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