Ewj: elliott wave

Thanks elliottwavegms
mu.
Euro falls to four-year low against dollar
........
The euro fell to $1.2237, while one pound was worth 1.1702 euros.
http://news.bbc.co.uk/2/hi/business/10118673.stm

Can EUR/USD go DOWN to 1.14 ???

 

Oops :eek: .
Wait and see if there is support at MA(200) = SPX 1100 ???

 

Five waves DOWN, three waves UP .
There may be another five waves DOWN .

 

Normally not, but what is normal in these times??

 

USD/EUR 0.82 target breached .
Next target EUR/USD 1.14. Is this possible ???

 

Crude Oil lower low :eek: .
So we are still in Wave 2] which is an expanding triangle.
Measured move target = $100.
% measured move target = $120.

 

Will there be a rebound from dma200 support at SPX 1102 ?

 

The answer is YES ,
there is a rebound from DMA200 at SPX 1102.1899.
Five waves UP, three waves DOWN, there may be a measured move UP,
which is in line with the hammer look alike .

 

Crude Oil falls.
The question is "will Gold follow?" .
Gold chart can be counted as Wave 3]3)5.
Wave 5 is tracherous. It can be a failure, an extended wave or absent :eek: .
So a BULL Trap is possible. We may see $1035 again ,
unless USD falls.

 

blnbr,do you have a cycle date in here,may 22?