EUR/USD - Bottom expected in the area between 1.0486 - 1.0489

EUR/USD - Bottom expected in the 1.0486 - 1.0489 area

EUR/USD - Bottom expected in the 1.0486 - 1.0489 area

EUR/USD - Could a long-term low be nearby

EUR/USD - Bottom expected in the 1.0486 - 1.0489 area 

I have been looking for a bottom near 1.0488 for quite a while now and here we are at the doorstep to this target. Short-term, I think we might see a little more sideways price-action before the final spike lower to the 1.0486 - 1.0489 area to complete the five wave decline from 1.1300. A break above minor resistance at 1.0598 will be the first strong indication that the decline from 1.1300 is complete. 

Once this target-area has been reached a rally should be expected. Taking my previous post regarding Gann's 30 year cycle into consideration (you can see that post by clicking here). This could turn out to be much more than a corrective rally.

If a long term low is seen here, how could than be explained from an Elliott Wave Principle point of view? The only way that would be acceptable for for the EWP is that this low is, that a fifth wave failure has been seen in wave (v) of (C) that completes wave [B]. 

If a long-term low is seen in the 1.0486 - 1.0489 area and strong rally should be expected into late 2017 according to Gann. 

You are most welcome to step inside and see what else this service has to offer. See you on the other side.

EUR/USD - Downtrend persists, but momentum is weak

EUR/USD - Downtrend persists, but momentum is weak

EUR/USD - Downtrend persists, but momentum is weak 

The downtrend from 1.1494 persists, but momentum is becoming very weak and the ending diagonal also sends us a signal, that this downtrend soon will be coming to an end for a corrective rally towards the origin of the ending diaonal at 1.0830.

Short term, the move lower towards 1.0530 and maybe even lower to 1.0481 will remain in focus as long as minor resistance at 1.0605 protects the upside, but a break above here, indicates that wave iii has come to an end and that a shallow sideways consolidation in wave iv towards 1.0830 should be expected. 

EUR/USD - Correction towards 1.2995 is well under way

EUR/USD - The call for a correction towards 1.2995 was well founded

EUR/USD the call for a correction towards 1.2995 was well founded 

The call yesterday for a correction towards 1.2995, which marks the top of wave iv of one lessor degree was well founded. Not alone do we find the top of wave iv of one lessor degree at 1.2995, but the 38.2% corrective target is found at 1.2958, so we should expect the top of wave 4 to be found within the 1.2958 - 1.2995 area. 

As wave 2 was a flat correction, we should expect wave 4 to be a zig-zag correction. It could also be a triangle, but as the internal waves of a triangle is made up of zig-zag's, we will be correct about the first wave no matter which corrective type will be seen. 

Short term support at 1.2661 should protect the downside for the rally towards the 1.2958 - 1.2995 area. That said, we should look for some kind of resistance at 1.2782, which marks the 23.6% corrective target and finally remember, this is only a correction. 

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2014-05-27
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2014-06-23
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