Is The Euro Decline Finished in 1.2492???

Discussion in 'Forex Trading' started by torosyososfx, May 29, 2005.

  1. Is The Euro Decline Finished in 1.2492???

    The last week the euro mades a new low in 1.2492, the question is, is the decline finish or the "NO" french, will bring inestability to the EuroZone?. Maybe the fractal of the human social behaviour help us to find an answer. With the beginning of the 2005, started a decline, but this decline is not a motive decline, what means this?, the market moves in two differents kinds of waves, motives and correctives, motives move the market in five small waves, and correctives are a reaction in three small waves. Then, since january 2005, we can see in the daily chart, THREE waves DOWN, THREE waves UP, and since march 10 the last THREE waves down. So, as the first leg is a three waves down, the actual down cant be a five waves decline, only a three. Three waves are correctives, not motives, because that we have to expect a recovery, with the possibility if this decline dont overlap the 1.2460, of a new high. To understand it better, take a look to the charts. The blue counting shows a wave (5) still in progress, where wave 4 is unfolding with a big probability of a bottoming in the 1.25 area, after it, a new wave up 5 minor will be in progress and confirmed with the brake of 1.3479. The red counting shows a wave ((2)) in progress as a double zig zag (W)-(X)-(Y) or a flat wave (A)-(B)-(C), unfolding at this moment the wave Y. The overlap of 1.2460 confirm this pattern and new lows to 1.18. Watch the charts and take your own conclusions.
  2. OH! I see it! The waves....... :eek: