Thursday 1 August 2013

EURUSD reversal, as i said

Hi Traders,

I said on Monday that a reversal was going to start soon and ... here we are. All the rest unchanged.


TARGETS:

likely: 1.32057
possibly: area 1.3159-1.3147
maybe: area 1.2992-1.2975

ELLIOTT WAVES

Monthly Chart
After the top in "d" we expect a trend of 5 waves downwards, being wave 1(down) and wave 2 (up) already in place + wave 3 (down) in its infancy.
Weekly Chart
The above is confirmed by the weekly chart: the "3 soldiers candlestick"  should be followed by a downtrend.
Daily Chart + Wave Oscillator (daily)
See the wave 1 and 2 in red. Volume should pick up soon. There's an exit  signal in the wave oscillator (daily) yet.
4 hour Chart + Wave Oscillator (4-hour)
See the 5 waves up and the 3 soldiers down that should be followed by a small uptrend. 
Note the last wave split in 5 minor waves itself. The wave oscillator shows the early stages of a reversal signal.



monthly chart, click to enlarge




weekly chart, click to enlarge




daily chart, click to enlarge




wave oscillator in daily chart, click to enlarge




4-hour chart, click to enlarge




wave oscillator in 4-hour chart, click to enlarge




1-hour chart, click to enlarge




wave oscillator 1-hour chart, click to enlarge




























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