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. 

Duane
2014-05-27
Hi EWS,

Just wanted to send a word of thanks for all of the hard work that you
do, and to show you that I personally have paid for my subscription many
times over with the fantastic work that you...
Roelant
2016-06-26
Hi Elliotwavesurfer,

Your forecast of the EURUSD waves and reversals on Brexit day were spot on! This was not chaos, the crowd followed a pattern!

GBPUSD was abolutely 100% too!Unbelievably accu...
Felipe
2014-05-26
Hi,

I recently tried a 30 day membership and I am very happy with the service. Pls keep up the great work!!! I will continue renewing!!

Felipe