Monday, 21 October 2013

EURUSD, targets

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.


likely: area1.3798-1.3820
possibly: around 1.4070


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.

weekly chart - click to enlarge

daily chart - click to enlarge

No comments:

Post a Comment

Hi Traders. Tell me if you agree or (politely) disagree.

Note: only a member of this blog may post a comment.