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Thursday, November 4, 2010

EUR/USD - Time for a minor correction

My preferred impulsiv count seems to be the right one. Wave (i) and wave (iii) was almost equal in length, which means that wave (v) most likly will be smaller. I do think that wave (v) and iii ended at 142.81 and that wave iv will correct down to the 141.95 - 142.05 area before the final rally higher towards the 143.50-143.85 area.

By the way wave iii became extended as wave iii is 1.618 times longer than wave i. A very common relationship between first and thrid waves.

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