chessnut
Long

EURUSD EW analysis - flat correction underway

FX:EURUSD   Euro / U.S. Dollar
131 0 1
The EURUSD             bounced non impulsively in abc formation from the lows of 1.109. After it re-approached lows at 62% of the abc I published a possible triangle formation which has been invalidated through further non impulsive behaviour. This therefore must be considered to be a wave B. Now over uncertainty over the Greek bailout solution over the weekend, an upwards impulse has formed at the base of the B wave correction. This is likely the beginning of a wave c (i of c) and IV that will complete a typical 3-3-5 flat correction towards 1.16 before the descent to ultimate lows begin. I believe that moderately positive news will push the EURUSD             pair much higher in third wave formation on Monday when the market opens, and the following week may be enduringly positive. This flat correction playing out as expected means more to us than a long scalp, It also validates a powerful short from higher levels.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out