Euro in a Big Bear Market Bottom to 1.17???

Discussion in 'Forex Trading' started by torosyososfx, Oct 2, 2005.

  1. Euro in a Big Bear Market Bottom to 1.17???

    September 2, is the beginning of this actual downtrend, where confusion and misundertunding surround the market. We can see at this moment three legs down-up-down, then if the prices will not go below 1.1977, this pattern is corrective, but if the prices break this support, we are in presence of a motive pattern with a high probability to go below 1.1867, and establish a new low.
    The Blue counting shows a wave 5 in progress, unfolding a potential wave ((iii)) complex, where a subwave (iii) is expected.
    The Red counting shows a wave X possible finished in 1.1977, being expected an uptrend as Y.
    As you can see in the charts.