Monday, 9 March 2015

EURUSD debacle

Hi Traders,

The Euro (now at 1.085) is in the target area (1.0917-1.0759) - see bottom-right, wave "e" in the monthly chart. Hence, it might rebound to 1.0970 (see 1-hour chart) before resuming the downtrend to the area 1.0419-1.0365.


First up to

likely: 1.0970
possibly: 1.0986-1.0988
maybe: 1.1113

then down

possibly: 1.0419-1.0365.
maybe: 1.0206-1.0104


It's hard to count waves when the movement is so sharp and the waves are not properly well defined. However, the daily chart shows that the Euro should  move further down in nine waves.

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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