EURUSD Weekend View ... Complex Correction?

Discussion in 'Forex Trading' started by thaimoneymaker, Nov 29, 2008.

  1. Hi let's have some view during this weekend :D

    Looking into minor waves of a 60 minutes chart, all the latest movement seem very corrective. (three wave moves).
    So, this can be two cases.

    case1: The correction is end with a Single Zigzag pattern at about this Fibonacci level of 61.8%. If it's this case, we suppose this move to be a fourth wave, so the price must not overlap the first wave.
    See what I mean here, orange colour
    But this is less chance now as it move too deep.

    case2: The short-term up move is already done and it's heading down.
    We've to see a bigger picture, in 240 minutes chart, you'll see that there is a possibility that EURUSD will make a triangle move. (A,B,C,D,E) And, it's already have the C wave completed. So, we'll see another three wave move down to wave D.

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