Euro Beginning or finishing a Decline? 1.40 or 1.20? What says the Cereal Bowl?

Discussion in 'Forex' started by torosyososfx, May 15, 2005.

  1. Euro Beginning or finishing a Decline? 1.40 or 1.20?

    The new low of the last week invalidate the triangle alternative, then the last chance to expect a new bull market in the euro, is that this decline do not overlap the wave 1, it is 1,2460. If this down channel, since january, bottoming up 1.2460, and turn up, you have to see the blue counting, that shows a wave 4 in progress within a complex wave (5), as alternate rule mark. But if this wave (5) finished in the december high, then you have to follow the red counting, that shows a double zig zag wave (W) in progress, within a big wave ((2)). One more wave down is expected for both alternatives, since that point five waves up will show the trend to 1.40 or 1.20. Look the charts and get your own conclusions.

    Edited By Matias Menendez Larre
  2. My cereal bowl spells UP.

    I disagree with it.

    The only place I see for EUR/USD to go is down.

    I may be partial because my cash is short euro, but... usually there's a reason for my cash to be where it's at. :D

    Gamal Saham Ruach
  3. The only thing I know for sure is that you've stolen my cereal bowl analogy.
  4. Wave iv or (iv) within wave (c) made a topping in 1.2690, unfolding after it, a wave down, breaking the ascending trend line, suggesting that wave iv is finished and wave v in progress with a first target above 1.2640 support, as show the chart.