ac7777
Long

Long to 1.14120-1.14952, then Short to below 1.00

FX:EURUSD   Euro Fx/U.S. Dollar
72 0 1
On December 16th, when price was at 1.08-09, I began forecasting a rally in the Euro             to two upper targets: 1.222 and 1.14119. That forecast and my followup analysis are posted at
Potential Euro/USD Post-triangle Thrust Rally Targets


On February 4th-5th, the wave B triangle did produce a rally which exceeded my first target, reaching 1.12448. By my count, that was the peak of the 3rd wave of wave C.

That was followed by a brief decline, another rally up to 1.3764 and then a decline down to 1.10717. I count this as the majority of the 4th wave of wave C.

In the last day's wave action, there has been a rally and another decline, and the start of another rally, shaping into a contracting pattern: I perceive that the 4th wave is ending as a triangle. Making a preliminary estimate of the parameters of the triangle based on what I can see thus far, and a post-triangle thrust measurement based on that, it is remarkable that from the "end" of the triangle where its trendlines converge the height of the implied minimum thrust is 1.14121.

I expect the Euro             to rally to this level, at minimum. I also allow room for a final rally up to but not to exceed 1.14952, as I believe this entire sequence since December to be a 2nd wave (of a greater 5th wave) corresponding to a 1st wave which started downward from 1.14952.

I anticipate the peak of the rally in the 1.14** range to mark the beginning of the Euro's decline to below parity with the Dollar.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out