EUR/USD-Euro-Dollar – Bullish Minuette (v) – FED Meeting Minutes
The Elliott Wave Analysis presented below states that EUR/USD-Euro-Dollar has been trading in a Complex Double Three Structure between the 23rd of May and 20th of June.
Therefore, it took 1 month for the Double Three Structure within Minuette (iv) (black) to complete.
The recent rally in the EUR/USD-Euro-Dollar caused by ECB President Mario Draghi’s comments on monetary policy leads one to think that there’s no doubt about it, it’s an Impulse.
Thus, Minuette (v) is most likely unfolding.
Seems like the Bullish Impulse in Sub-Minuette iii (blue) is now being corrected with Sub-Minuette iv (blue), which according to the Fibonacci Retracements is expected to complete its run at or around the 38.2-50% Levels.
Fibonacci Extensions are projecting the 1.15250 levels as the top of Minuette (v) (black), with the 100% Extension of Minuettes (iii) & (iv) (black) and with 61.8% Extension of Sub-Minuettes iii & iv (blue).
The Reversed (Hidden) Divergence on the Volumes are indicating that Minuette (iv) might be ending very soon, leaving room for the last Bullish Impulse.
EUR/USD-Euro-Dollar - BUY Position:
Entry Level – 1.13300
SL – 1.12500
Target – 1.15250
Therefore, it took 1 month for the Double Three Structure within Minuette (iv) (black) to complete.
The recent rally in the EUR/USD-Euro-Dollar caused by ECB President Mario Draghi’s comments on monetary policy leads one to think that there’s no doubt about it, it’s an Impulse.
Thus, Minuette (v) is most likely unfolding.
Seems like the Bullish Impulse in Sub-Minuette iii (blue) is now being corrected with Sub-Minuette iv (blue), which according to the Fibonacci Retracements is expected to complete its run at or around the 38.2-50% Levels.
Fibonacci Extensions are projecting the 1.15250 levels as the top of Minuette (v) (black), with the 100% Extension of Minuettes (iii) & (iv) (black) and with 61.8% Extension of Sub-Minuettes iii & iv (blue).
The Reversed (Hidden) Divergence on the Volumes are indicating that Minuette (iv) might be ending very soon, leaving room for the last Bullish Impulse.
EUR/USD-Euro-Dollar - BUY Position:
Entry Level – 1.13300
SL – 1.12500
Target – 1.15250
