EUR/USD almost hit WMA50 (1.1506 ) in week of Oct. 12 but failed. That's why 4-D downward wave was extended. However it is still holding ascending Channel bottom line since 1.04613 at Daily, Weekly and Monthly. We will still expect one more upward wave 4-E.
52 weeks consumed for (1.3966--1.0461)-downward waves. We spent 33 weeks for wave 4 consolidation (52 x Fib.61.8%=32.14 weeks so far). However EUR/USD's favorite Fib. No. used to be 76.4%, which means (52 x Fib. 76.4%=39.73 weeks). We still have 6 weeks more. Monthly close is keeping above Fib. 61.8%(1.0939) support (Oct. 31).
I dont think that this is a reversal .. This will be a retrace ..for rejection .
ishstar
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yes i feel we will have it complete when draghi speaks again, sending eu down and the final nail the next fed meeting end of november with a hawkish tone
stream
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lol that has nothing in common with Dragi .. Dragi only helps ... for sure not for free ..