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Thursday, January 16, 2014

EUR/USD - Look for a decline closer to 1.3550 to end wave i of 3.

(Please click at the chart to see it better)
EUR/USD
 
Red wave iii extended to 1.3581 and red wave iv is done at 1.3628 and we should now be looking for red wave v towards at least 1.3578 and likely even lower towards 1.3550 to end wave i of 3. Once wave i is in place look for a correction towards 1.3628 before the powerful wave iii of 3 takes over. 

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