See this post first:http://theelliottwavesufer.blogspot.com/2011/07/eurusd-still-in-no-mans-land.html
The possible bullish triangle was invalidated with yesterdays break below 140.71. The decline does look impulsive and does favor my call for this being wave C. My first target is 138.13 with 136.82 as the next downside target. Longer term I will expect this decline to reach the area near 128.71-129.64.
To my count above, there is a possibility, that we have seen a B-wave triangle (see the hourly chart below). The outcome will be the same, but it's a question where we are in the count.
No comments:
Post a Comment