Wave iii ended at 132.85 just 4 pips above the previous wave (iii). The following rise makes the best count for wave iii a fifth failure (At 32.82 wave iii became exactly 1.618 time longer than wave i) and the current rise wave iv. This wave iv should terminate near 134.21 and setting the stages for wave v's decline down to 132.10 ending wave v of 1 of 3.Thursday, November 25, 2010
EUR/USD - The last wave iv is developing
Wave iii ended at 132.85 just 4 pips above the previous wave (iii). The following rise makes the best count for wave iii a fifth failure (At 32.82 wave iii became exactly 1.618 time longer than wave i) and the current rise wave iv. This wave iv should terminate near 134.21 and setting the stages for wave v's decline down to 132.10 ending wave v of 1 of 3.
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Hi EWS,
ReplyDeleteMurrey Math target for wave 4 might be around 3428 (MMTL +6/8 on 1h chart)
and for wave 5 3184 (MMTL +4/8 on hourly and -2/8 on 4h chart)
That fits with your view.
Best to you,
Markus