ac7777
Short

EUR/USD: Potential Near-term Decline to 1.0562

FX:EURUSD   Euro / U.S. Dollar
65 2 3
The Euro             appears to be ending its 4th wave bearish triangle which began in March 2015. That triangle is so far indicating an ultimate target of $0.87+.

I am expecting an initial thrust downward from the present rally peak (which I believe is the top of wave E, which is itself triangulating now and still has one minor wave up to be complete) to near $1.0562.

An alternate count is that this is the peak of triangle wave (b) of D, but the downside target remains the same. This discrepancy in the count could be resolved when it is seen whether price rebounds in an E wave from above the 1.05168 (the December 2015 low which is wave B of the triangle) or just keeps on going down toward the long-term target.
Expecting imminent decline to cited target area
snapshot
Reply
Closeup of the triangulating end of the presumed E wave, which I believe is bearish and targeting $1.05 area
snapshot
Reply
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