Will Euro Slide Down to 1.18 like butter???

Discussion in 'Forex Trading' started by torosyososfx, Aug 28, 2005.

  1. Will Euro Slide Down to 1.18 like butter???

    The past week the euro made overlaped waves, retracement to the 0.618 of the previous wave down. This track up, is contain within a channel and with overlaped and choppy waves, suggesting that this is a corrective pattern and not a motive one. If this is correct, at least, one wave more down is expected under 1.21. The wave in progress is a wave ((ii)) or ((b)) double zig zag with a key zone in the 0618 = 1.2347 of the previous move down.
    The Blue counting shows the first wave down within 5, wave ((i)), with a low in 1.2125. This wave is being retraced by ((ii)) double zig zag with a target in the 0.618 of ((i)) at 1.2347. This is in detail in the intraday counting.
    The Red counting shows the first wave down within X, wave ((a)), with a low in 1.2125. This wave is being retraced by ((b)) double zig zag with a target in the 0.618 of ((a)) at 1.2347. This alternative is in detail in the intraday chart.
     
  2. or will it be like molasses on a fall day?
     
  3. I'd say it's gonna flitter around like a june bug on a spring afternoon.
     
  4. skepticaltrader

    skepticaltrader Guest

    My Advanced GET software is telling me that the EUR is going to around 1.17 on the Daily chart. This would be the end of the 5th Wave of Elliott wave sequence. I guess we'll see what happens.