Friday, 6 February 2015

Euro downtrend to resume

Hi Traders,

The Euro bottomed at 1.10966 and missed my target for a whisker (1.1091-1.1062). Then it rebounded to 1.15332.

It should now resume the downtrend to finally touch down in the area 1.0917-1.0759. Afterwards, we should see some good rally unless bad news come from Greece and Ukraine.


likely: area 1.0917-1.0759
possibly: area 1.0344-1.0419
maybe: 1.0104-1.0206


The weekly chart below displays all the targets. Wave "e" is not fully displayed because the 1-hour chart is still waiting for one more wave down to the area 1.0917-1.0759.

NOTE: if any bad news comes to the stage we may see the Euro starting an extension that could take it easily below the parity.

monthly chart - click to enlarge

weekly chart - click to enlarge

daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge

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