Hi Traders,
The Euro (now at 1.1249) might be close to a top-reverse in the area 1.130-1.146. This could start a downtrend towards the parity (1 EUR = 1 USD).
ELLIOTT WAVES
The monthly chart shows a compression area (1-2-3-4 in red). If the wave count is correct, the Euro is bound to a sharp move to the area 1.10-1.00.
The weekly chart shows clearly the top-and-reverse area at 1.130-1.146. The daily and 4-hour charts confirm that the target is very close.
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
The Euro (now at 1.1249) might be close to a top-reverse in the area 1.130-1.146. This could start a downtrend towards the parity (1 EUR = 1 USD).
ELLIOTT WAVES
The monthly chart shows a compression area (1-2-3-4 in red). If the wave count is correct, the Euro is bound to a sharp move to the area 1.10-1.00.
The weekly chart shows clearly the top-and-reverse area at 1.130-1.146. The daily and 4-hour charts confirm that the target is very close.
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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