Wednesday 15 July 2015

EURUSD, soon to rally

Hi Traders,

The Euro (now at 1.1027) is set to drop a little to 1.0818-1.0800 but only to start a major rally to 1.18 and above.


first down to 1.0818-1.0800

then up to 

likely: 1.1546- 1.1602
possibly: 1.1871-1.1945
maybe: 1.2335- 1.2390


The monthly and weekly chart displays a compound formation a-b-c-X-a-b-c-W,  where W is still shaping up and will ultimately get the Euro to 1.18.

That formation (a-b-c-X-a-b-c-W) is made out of a Flat, 3 waves up (X), then a Zig-Zag which will be followed by wave W up to 1.18 and over. 

The 4-hour chart shows that the EURUSD must go to 1.0818-1.0800 to complete 5 waves down and eventually start the new uptrend.

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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