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My thoughts on the EUR / USD. After a sharp fall of the price correction is required to follow. Or, according to descending trend will decline to 1.11421, which is a signal point on the buy, or right now, according to the wave theory, will turn, if wave 5 is complete.
Also, if there is a breakdown of the level of 1.11421, the next target is 1.1100
Also, if there is a breakdown of the level of 1.11421, the next target is 1.1100
The outlook on EUR / USD pair is correct. I predicted to rise to 38.2, but is that the price stopped at 50Fibo level. There are 2 options. Either wave 4 has been completed, which means that soon will rise to the level of 38.2. Either wave 4 will continue to form between the levels 50Fibo and 61.8Fibo.
I suggest this forecast EUR / USD. As I said earlier, the price went down to the level of 50Fibo and bounced away, began to rise. At the same time, growth is currently weak and slow. Therefore, we can assume that there are 2 options: the formation of the fifth wave up to 38.2, according to Elliott and touch the upper boundary of the uptrend on the trend theory. And the second option - a figure double top formation, if the price does not overcome the 50 fib level.
So far, the price stops at the 1.47380 resistance, but Elliott says there will be formation of a wave 5 up. But it would not be logical in terms of the total older trend. We can see that the trad movement is directed downwards and now the price is in the region of the upper border of the trend. That is to be expected that motion will be directed downward. But I want to note that likely breakout trend and the formation of the figure's head and shoulders. Where the shoulder will start after touching the 61.8 Fib and end at 23.6.
The current situation with the EUR / USD. Double top was not finished. Repeat of 1.13760 level was not. Have a clear triangle. Further perspective - according to the movement of the falling trend. Now wave 4 is formed is likely that there will be decline to 1.12260 within the wave 5. The second option is such that the price will grow and overcome the level of 61.8. Then growth will continue to level 50 Fib.
- #392
- Jun 23, 2016 12:53am Jun 23, 2016 12:53am
GBPUSD justify my expectations. Mark was reached 1.48300, which is the upper boundary of the downtrend (W1). At the same time, a wave 5 on H1 can be considered complete.
I still see the two versions of events such that a wave 5 will be formed, down for W1, according to the downward trend.
Either will form the second shoulder, the figure head and shoulders. Also, in the growth of the price confirmation, you can add that at the level of 1.4300 the price reached only to the middle of the trend and made reversal.
I still see the two versions of events such that a wave 5 will be formed, down for W1, according to the downward trend.
Either will form the second shoulder, the figure head and shoulders. Also, in the growth of the price confirmation, you can add that at the level of 1.4300 the price reached only to the middle of the trend and made reversal.
Fall GBPUSD and EURUSD. The referendum_results - UK out of the EU
EUR / USD. Clear touch 1.13760 and then, under the influence of the news, falling down. Price came out of the triangle, as I said before, having played with the level of 1.13760.
GBP / USD. Reached the lowest point for the MN. Movement is formed in accordance with the downward trend. News led to the fact that there was a rebound from the upper border of the trend and a clear touch the lower.
EUR / USD. Clear touch 1.13760 and then, under the influence of the news, falling down. Price came out of the triangle, as I said before, having played with the level of 1.13760.
GBP / USD. Reached the lowest point for the MN. Movement is formed in accordance with the downward trend. News led to the fact that there was a rebound from the upper border of the trend and a clear touch the lower.
Forecast EUR USD. Price came out of the uptrend. Return to it - is unlikely. My opinion is that now the price correction phase after the pulse down because of the news. Probable output of corrective triangle with further movement down to 1.08253, or a continuation of the correction, between the levels of 50 and 61.8. Immediate objectives while moving down - is 1.08253 and 1.05579
Forecast GBPUSD. Correction begins to form an uptrend. Inside the trend correction downward movement is completed, which began as a consequence of the rebound from the level of 61.8. Thus, the completed wave 2. In this case, expected to be completed 3-4-5 waves and the formation of the rising trend correction.
If the price to break the upward movement, then we can assert that the correction will be configured as multiple testing of 1.32040.
If the price to break the upward movement, then we can assert that the correction will be configured as multiple testing of 1.32040.
