Hi Traders,
I checked the targets of the EURUSD by means of the technique developed by the Fibonacci Queen (Carolyn Boroden) and I got some interesting result.
As you can see by the daily chart we have some "Clusters of Projections". The "old one" was at 1.3673.
I dare say that the Euro was perfectly on target on Friday given that we had a top around 1.37.
The other two targets are equally interesting as you can see below. The hypothetical reason explained below.
As you can see by the daily chart we have some "Clusters of Projections". The "old one" was at 1.3673.
I dare say that the Euro was perfectly on target on Friday given that we had a top around 1.37.
The other two targets are equally interesting as you can see below. The hypothetical reason explained below.
TARGETS
likely: area1.3798-1.3820
possibly: around 1.4070
ELLIOTT WAVES
The Euro is performing a two-step pattern (1-2-3) in the weekly chart. Wave 1 & 2 developed completely. Wave 3 will be sub-divided in 5 smaller waves. Of these, wave 1 & 2 are completed (daily chart). Wave 3 should top at level 1.38.
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