Euro Decline will Bottom at 1.20???

Discussion in 'Forex' started by torosyososfx, Jun 12, 2005.

  1. Euro Decline will Bottom at 1.20???

    The euro decline looks like not have finish, but is near to the bottoming. Why we think that? because both countings are showing motive patterns unfolding the last legs, and the oscilators are extremely oversold. The Blue alternative counting shows a (5) finished with a truncated wave 5 minor, due the strong retracement of wave 4, and finished in the midle line of the chanel as show the daily chart. Since there we can star to count the wave ((2)) decline as a zig zag pattern 5-3-5, unfolding the wave 3 within the wave (A) intermediate. This wave 3 is making their last swing down, to enter in a wave 4 recovery. The Red counting shows a (5) finish in december 2004, starting here the double zig zag corrective pattern a-b-c-x-a-b-c. At this moment is unfolding the wave C within (W) intermediate, if is a double zig zag, and (A) if is a flat, but a flat correction is most uncommon in wave 2 position. Ussually, waves 2 retrace 0.618 of wave 1, that means that the euro will continue falling....... Where? the charts can help you to see this.
  2. 1.10