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Elliott Wave EUR/USD

  • #1
  • First Post: Jun 17, 2008 4:41am Jun 17, 2008 4:41am
I think so now

http://www.fxo.ru//img/2008/06/eurusd-4h170608.png
  • #2
  • Jun 17, 2008 5:06am Jun 17, 2008 5:06am
Quoting FXO
I think so now

http://www.fxo.ru//img/2008/06/eurusd-4h170608.png

after numerous new lows what makes you think c was the last?
  • #3
  • Jun 17, 2008 5:30am Jun 17, 2008 5:30am
This is my view on Daily. I think that we are still in the corrective downtrend, wave C.
I have two targets in price for the C wave completion:
1) 1.5100 (A=C)
2) 1.4650 (A strong confluence)

Currently I put more weight on the second target, thinking that wave C will unfold in 5 waves.
Also in regards with time I think the correction is still too early to finish. I think we need at least another month before having a chance to finish C. One key date being July 27.

But beware, I am always on guard looking for the trend to resume up strongly. After all the long term trend is bullish so...
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 20 KB
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  • #4
  • Jun 17, 2008 5:33am Jun 17, 2008 5:33am
And my view on H4.
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 9 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #5
  • Jun 18, 2008 1:50am Jun 18, 2008 1:50am
Quoting Newb>Trader
after numerous new lows what makes you think c was the last?
I do not assert flatly it but I suppose only.
However, we see the five-wave structure directed upwards now, therefore a following impulse will be also five-wave, and we shall look further already, what structure will be formed at euro. In case of necessity will be made amendments in count.


http://www.fxo.ru/img/2008/06/eur+chf-4h180608-1.png
  • #6
  • Jun 18, 2008 3:06am Jun 18, 2008 3:06am
http://www.imagefreehost.com/files/1...1357033530.gif

That's my view.I expect eurusd to drop now til 1.5407/1.5378 zone
  • #7
  • Jun 18, 2008 3:58am Jun 18, 2008 3:58am
Quoting TheCable
http://www.imagefreehost.com/files/1...1357033530.gif

That's my view.I expect eurusd to drop now til 1.5407/1.5378 zone
The count is wrong, it was 100% an 5-waves impulse upwards
  • #8
  • Jun 18, 2008 4:10am Jun 18, 2008 4:10am
I saw my mistake five 10 minutes ago.Thanks
  • #9
  • Jun 20, 2008 2:14am Jun 20, 2008 2:14am
It looks like the 2-nd wave (or "b") went off in the form of a irregular correction. Possibly the correction is not finished yet.


http://www.fxo.ru/img/2008/06/eurusd-4h200608-1.png
  • #10
  • Jun 20, 2008 5:27am Jun 20, 2008 5:27am
Irregular correction at eurusd has confirmed to be true. CHF though looks crookedly, but too it is possible to find out in it irregular. The euro will go above, oil, gold, cross-currencies push eurusd upward. Actually all European and not only European currencies work now against dollar. USD/MXN, USD/HUF have shown already new global bottoms.

http://www.fxo.ru/img/2008/06/eur+chf-4h200608.png
  • #11
  • Jun 20, 2008 11:29am Jun 20, 2008 11:29am
I guess that price of oil during the next few days will rise up to $145
  • #12
  • Jun 26, 2008 2:56am Jun 26, 2008 2:56am
Movement of euro upwards continues. Oil has finished construction of a triangle, next target is $145-150.


http://www.fxo.ru/img/2008/06/eurusd-4h260608.png
  • #13
  • Jul 2, 2008 11:34pm Jul 2, 2008 11:34pm
Probably, today we shall see continuation of movement. In my opinion, lead-in waves on 4h, directed in the conforming sides, have all majors already. 1-st target at eur 1.61, 2-nd - 1.6350. Crude Oil has arrived to 145 and it had enough aggressive picture on 4H/D.


http://www.fxo.ru/img/2008/07/eurusd-4h030708.png
  • #14
  • Jul 3, 2008 12:53am Jul 3, 2008 12:53am
And cable...


http://www.fxo.ru/img/2008/07/gbpusd-d4h020708.png
  • #15
  • Aug 20, 2008 2:52am Aug 20, 2008 2:52am
I continue to define big similarity formed on 4Н euro and gold structures and it gives to more confidence of correctness to a marking spent till now. Judging by characteristics of decreasing wave formations, both eur and gold it is necessary to construct downwards on one wave. Correction of 4th wave, as I guess, it is possible to consider already ended, but also correction transition in other model also I consider admissible. Significant levels which can be defined how final target of wave "C" is 1.4550, 1.4460, 1.4380. Last two most powerful. About deeper targets to speak now it is premature.

http://www.fxo.ru/img/2008/08/eurusd-4h200808.png
  • #16
  • Aug 21, 2008 12:19am Aug 21, 2008 12:19am
The correction has continued in more complex form. However, it is necessary to look closely at eur now, in my opinion, soon will be necessary selling it. The correction can end at any moment. As I guess, eur all the same will pull week to close downwards.


http://www.fxo.ru/img/2008/08/eurusd-4h210808.png
  • #17
  • Aug 21, 2008 5:24am Aug 21, 2008 5:24am
Quoting FXO
The correction has continued in more complex form. However, it is necessary to look closely at eur now, in my opinion, soon will be necessary selling it. The correction can end at any moment. As I guess, eur all the same will pull week to close downwards.


http://www.fxo.ru/img/2008/08/eurusd-4h210808.png


Good chart..
  • #18
  • Aug 21, 2008 7:43am Aug 21, 2008 7:43am
Quoting FXO
The correction has continued in more complex form. However, it is necessary to look closely at eur now, in my opinion, soon will be necessary selling it. The correction can end at any moment. As I guess, eur all the same will pull week to close downwards.
great analysis... I'm holding my shorts..
P.S. Think "positive(+)"
  • #19
  • Aug 22, 2008 5:45pm Aug 22, 2008 5:45pm
Watch the wave counts in Gold for clues on turns, as the correlation is 90% and gold is leading the dance right now. Oil is also near 90%, and together they drive markets. So if the Russia bear puts it's paw on the pipelines in Georgia, and fears build over an escalation to protect US interest in the area, we could see some tension effect the markets in Oil/Gold/EUR-USD.

Looks like one more drop next week to 1.4311 support to complete the EUR correction as a wave C in a larger 4th wave. I cannot rule it out yet, but anticipate a strong rally in September is in the waves.
  • #20
  • Aug 24, 2008 9:59pm Aug 24, 2008 9:59pm
The Euro drop is taking shape. Impulse wave 1 of (V) is just complete around 1.4695. That should be followed this hour by an A-B-C for w.2 to around 1.4790 where previous w.4 low was. The better move will be to watch for the turn back down and catch w.3-5 is the plan.
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