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. 

Roelant
2019-06-14
Dear Elliottwavesurfer,

Awesome action in your crude oil surfing 2019! Jumping these waves is a sure way out of economic slavery.
You deserve a slot on MSM. But that would be the end unfortunately...
Roelant
2019-02-25
Hi Elliotwavesurfer,

You’re in better shape than ever before!

Talking about your recent Brent & WTI analysis.
Awesome & deeply appreciated.

You’re top of the list together with Marty Arm...
Thomas
2014-05-28
phenomenal new service EWS, I have followed you for 18 months and the exceptional analysis continues unabated! I look forward to the daily updates focusing on the most interesting and potentially lucr...