TheFreeCryptoPress

EURUSD AB=CD / WXY(ABC) Revised Price Targets

Short
FX:EURUSD   Euro / U.S. Dollar
EURUSD
I've revised previous EURUSD chart, linked to as related idea...

Revised Target Projections:

AB=CD Pattern 1.618 Extension =
$1.16507


ABC Wave of "Y" Extension = Yellow Dotted Fibs
100%: $1.1708
123.6%: $1.16701
138.2%: $1.16462
161.8%: $1.16077

WXY "Y" Wave Extension = Pale Blue Dotted Fibs
78.6%: $1.16978 (Target Hit Today Sep.22,2020)
100%: $1.16426
123.6%: $1.15817
138.2%: $1.15441
Comment:
Look for LOCAL "Higher Low"($1.1625); If hold, then possible retracement from ABCD(AD Retracement)
14% $1.1680
23.6% = $1.17173
38.2% =$1.17735
50%= $1.18189
Much different than original estimates.
The ABCD Targets are now invalid according to the low reached today!($1.1625).
Should there be a 38.2% or 50% retracement, we are now looking at possible adjusted retracement levels:
14% $1.1680 (Level Hit!)
23.6% = $1.17173
38.2% =$1.17735
50%= $1.18189
The ABCD Pattern extends either 127% or 161.8%. The move down to $1.1625
is a 177.4% extension of AB:CD. Is this arbitrary? Please leave a comment if you will!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.