EURUSD: Recovery From 1.3000 Should Prove Corrective-Elliott Wave
1.3140 which we know is a corrective movement, now part of a larger complex pattern. From an Elliott Wave perspective we are tracking two possible patterns, where both legs (a) and (b) are made in three waves like in our EURUSD live example below. we are talking about flat where wave (c) could rally back above 1.3140 or even triangle if price remains sideways after ECB press conference.
Bottom line: Current rise is part of ongoing correction and sooner or later EURUSD should turn beneath 1.3000.
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Comment by Francesc Riverola on January 10, 2013 at 10:23am -
the second image does not work to me....
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Comment by Gregor Horvat on January 10, 2013 at 10:25am -
Hi, thanks. it should work now
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Comment by Francesc Riverola on January 10, 2013 at 10:31am
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fixed!
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