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Euro falling to 1.20???

  • Post #1
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  • First Post: Jun 28, 2006 4:54pm Jun 28, 2006 4:54pm
  •  forexbear
  • | Joined Jun 2006 | Status: Member | 3 Posts
Euro falling to 1.20???

After topping at 1.2978, completing a five wave structure up, being the second active wave of the pattern, an important change of trend took place. And the bears control the market since then as playforex.com.ar expect. All trends have at least three waves, and the first wave down is complete at 1,2528 and retrced to the 0.382 fib level. How long can be the next wave down?, the elliott wave structure and relationship between waves can help to establish a support for this low, as the daily map show at the forecast.The trend was not till today, wednesday, declare to down or up. Because of it we can say that the trend continue being sideways, and if we take a look to the 4 hours charts, we can labeled a running triangle, started on june 13, being in progress. A break of the 1.2474 low, tell us that a complex and subdivided wave 3 is on way.
  • Post #2
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  • Last Post: Jun 28, 2006 5:32pm Jun 28, 2006 5:32pm
  •  Rusty_forex
  • | Joined Apr 2006 | Status: There's a 'me' in team! | 160 Posts
Quoting forexbear
Disliked
Euro falling to 1.20???

After topping at 1.2978, completing a five wave structure up, being the second active wave of the pattern, an important change of trend took place. And the bears control the market since then as playforex.com.ar expect. All trends have at least three waves, and the first wave down is complete at 1,2528 and retrced to the 0.382 fib level. How long can be the next wave down?, the elliott wave structure and relationship between waves can help to establish a support for this low, as the daily map show at the forecast.The trend was not till today, wednesday, declare to down or up. Because of it we can say that the trend continue being sideways, and if we take a look to the 4 hours charts, we can labeled a running triangle, started on june 13, being in progress. A break of the 1.2474 low, tell us that a complex and subdivided wave 3 is on way.
Ignored

I think its all in the fib's. If euro gets under 1.2165 which is 61.8% retracement of 1.1650 - 1.2990 move, then we could see a move much further down.

At the moment the action is being contained by the 38.2% fib at 1.2485. So a break below 1.2450 could see 1.2325.

Cheers

Rusty
 
 
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