aibek

EURUSD Monthly. Falling Wedge. WXYXZ.

FX:EURUSD   Euro Fx/U.S. Dollar
It's unpopular count as many call for immediate short down towards sub-parity.
The idea is simple - we got impulse up from 2000 low and now we are in a long term correction which shaped
a very nice Falling Wedge pattern. None of the trend lines were broken so the model is valid.

The wave C up should be impulsive with minimum possible target at 1.75 level where C=A.

At the moment the structure of upmove is still corrective so it can be another wave X with possible target at 1.23-1.27 area which should be followed by another drop down in wave Z which should land in the area of often met 78.6% Fib retracement at 0.99 level or even below as wedge's support is at the 0.96 mark.

Critics and comments are more than welcome!
MANOLIS PRO
4 months ago
by 2026 EURO probably won't exist anymore.. :)

btw thank you for sharing.!
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aibek MANOLIS
4 months ago
)))) I like to read catastrophic scenarios. You are welcome, Manolis!
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MANOLIS PRO aibek
4 months ago
Thanks again :)
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AlbCM
4 months ago
the timing of the bottom by mid-2018 is correct, but I do not expect it to go higher that 1.16 set on May 3. And the pair should eventually fall towards 0.85 area.
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aibek AlbCM
4 months ago
Thank you for comment, AlbCM! You think that wave XX will be weak and we will soon continue down.
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AlbCM aibek
4 months ago
I think 1.16 on May 3 was this year high. There will be another attempt to climb higher by Sept-Oct, but unlikely higher than 1.16. If you take Fib numbers 78.6/88.6 from 1.16, what do you have?
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aibek AlbCM
4 months ago
Thanks again! Let us see! We should switch to daily TF to put 78.6/88.6 Fibs from 1.16 area highs and it will show only the area of potential bounce up in lesser degree ABC inside of XX.
Reply
Gorbie
4 months ago
snapshot

+1 Reply
aibek Gorbie
4 months ago
Gorbie, thank you for sharing! Looks good, let's see which way it will go!
Reply
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