EUR/JPY
The correction from 120.28 became a little deeper than I expected, but it has not changed My view in any way. I regard the decline from 120.28 down to 119.07 as wave iv of 5 and we should soon see way v of 5 move higher through 120.28 for a rally towards the ideal target near 121.28. However, once we reach the target near 121.28 we should expect a big correction down to the 113.54 - 116.00 area, where we find the wave four of one lessor degree. This would be the first target-zone we will look for the expected wave 4 to end. However, we will have more clues once wave 3 finally ends and we can calculate the Fibonacci retracement targets, but for now we should stay focused towards the upside for one last rally higher towards 121.28.
EUR/NZD
After the test of 1.5889, which I have marked as green wave ii we should be ready for the next rally higher towards 1.6054 and beyond towards the next target at 1.6267 and possibly even higher towards 1.6545. Short term a break above 1.5964 will be the first clue, that green wave ii is indeed over and green wave iii higher is developing. However, as long as minor resistance at 1.5964 protect the upside we must allow for a new test close to the 1.5889 bottom and maybe even slightly low towards 1.5865, but we will likely not see anything lower than that.
Hello EWS, i wrote you email send it to elliott.wave.surfer@hotmail.com on 7 jan. have you see it ? about timing correction ?What do you think about this
ReplyDeleteHi Petar,
ReplyDeleteI'm sure I have seen it and replied to you, but I will take an ekstra look later today.
I will come back to you.
Kind regards
EWS
I have no msg from you .Idea is if one move is 5 waves, and correction is 3 waves in percent x20 ,impulse wave is 100% and correction is about 60% from the time for impulse. If there isn't break of the first wave for 60% from the time needed for first wave its mean it's not an impulse .
ReplyDeleteHi again Petra,
ReplyDeleteI have now checked my inbox and I have no mail from you.
However I remember you asked me about the time on the blog (see here http://theelliottwavesufer.blogspot.dk/2013/01/elliott-wave-analysis-of-eurjpy-and_4.html )
I don't know if this is the question you meant?
Kind regards
EWS
I resend you same mail again to elliott.wave.surfer@hotmail.com i hope this time to arrive.
ReplyDelete