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Monday, October 29, 2012

Elliott wave analysis of EUR/USD: EUR/JPY and EUR/NZD

 EUR/USD - I like the Triangle count more and more and think with would fit my count since the 1.2044 bottom perfectly. If the Triangle count is correct we could see a move a little lower in wave C before wave D higher takes over and should cause a minor rally towards 1.3110 around November 13. That said we still can't exclude the flat correction, which would call for a break below 1.2825 towards 1.2740 be fore up.
 EUR/JPY - My count for a powerful decline in wave iii down from the peak at 104.59 is working perfectly and we should soon see the next powerful decline towards at least 101.85 and more likely 101.45 on the way towards the ideal target for this correction at 99.35.
EUR/NZD - We just need one more decline towards the 1.5935 - 1.5952 to end this c-wave of the expanded flat correction and set the stage for the next powerful rally higher. A break above 1.5777 and more importantly 1.5845 confirms that the expanded flat since the 1.5967 peak is over and wave iii of 3 is under way - Stay tuned!

1 comment:

  1. That was exactly what I was looking for. You have done a wonderful job communicating your message. Keep up the good work.


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