The latest price-action has forced me to changes my count slightly. Wave iii topped or is topping near 142.40. At 142.40 wave iii is 1,618 times longer than wave i. A break below 142.01 will confirm that wave iv is in motion. Wave iv should be a simple zig-zag or a triangle due to the principle of alternation. Wave ii was a flat, therefore wave iv should be a zig-zag or a triangle or a combination of corrections. The most likely target for wave iv is near 140.96, where it has corrected 38,2% of wave iii.Tuesday, March 22, 2011
EUR/USD - Wave iii topped or topping
The latest price-action has forced me to changes my count slightly. Wave iii topped or is topping near 142.40. At 142.40 wave iii is 1,618 times longer than wave i. A break below 142.01 will confirm that wave iv is in motion. Wave iv should be a simple zig-zag or a triangle due to the principle of alternation. Wave ii was a flat, therefore wave iv should be a zig-zag or a triangle or a combination of corrections. The most likely target for wave iv is near 140.96, where it has corrected 38,2% of wave iii.
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