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.

Duane
2014-08-29
Hey EWS,

Great work on the GBPCAD and the NZDCAD. These are the type of opportunities that I am looking for, monthly turns caught with daily or hourly entries. Easy money!!

Duane
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
Ananyavrat
2016-06-24
Hi Surfer,

Super calls !! And analysis.

Bravo for your brexit call !!
Whats next?

Ull need to update all indices!

Ananyavrat