My forecasts by EURUSD, GBPUSD, USDCHF, USDJPY, GOLD - page 17
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Eur/usd
Trend is down !
Until we see USD weakness (move above 1.2450)
Wave analysis
GBP/USD Wave analysis
Wave analysis
EUR/USD Wave Analysis
Hello escalibur,
On the EURUSD, I like your Elliott Wave count up to the end of may.
I see the ABC-X-A?
I'm guessing you do not see A? as a :5, which could be wave A of a zigzag.
Why is this ?
Thanks,
Rene
First.
Trade Idea: EUR/USD - Buy Limit at 1.2100; Target: 1.2250; Stop: 1.2025.
Then.
Trade Idea: EUR/USD - Sell Limit at 1.2250; Target: 1.1650 ; Stop: 1.2325.
The EUR/USD finally broke below the triangle, but did so after two false breakouts. The pair
has moved higher after putting in lows below 1.1900. The week was closed out with the EUR/USD
at 1.2110. The resistance comes in at 1.2150-1.2200. This is the former support level which
created the triangle (see chart at bottom). If that resistance band hold, expect continued
selling pressure. Support comes in at 1.2050, 1.1950 and 1.1875. Penetration of the recent
low at 1.1875 has a target of 1.1650.
"P&F EURUSD10080 Box Size 250X3 or(6.18%) HI/LO
Data 1.6038 - 0.8225 ~ 152 Month ~ 4627 Day
Database 662 records 1.21112 (Last Close)
1997-10-05 00~00
2010-06-06 00~00 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"
BJF-Trading-Group_Excel_Chart
Hello escalibur,
On the EURUSD, I like your Elliott Wave count up to the end of may.
I see the ABC-X-A?
I'm guessing you do not see A? as a :5, which could be wave A of a zigzag.
Why is this ?
Thanks,
ReneHi Rene
To consider trending impulse (:5) pattern must adhere to some construction rules.
(Essential Construction rules and Conditional Construction rules )
The only possible way to consider wave A? as a :5 is if A? wave is a terminal impulse.
I think this is not the case!
There is not confirmation for the end of wave A? yet, and we may see more down move before the end is confirmed.
My suggestion is that structure of wave A? is double combination as part of Flat or triangle after X wave.
Regards
Eur/usd
EUR/USD Weekly Chart
Eur/usd
EUR/USD Monthly Chart
Gbp/usd
GBP/USD Weekly Chart
GBP/USD Monthly
GBP/USD Monthly Chart