EUR/USD Daily

  

General overview for 08/02/2014

The
Dec.’13 high of 1.3893 completed wave ‘B’ within a larger expanding
flat sequence that dates back to the Feb.’13 high of 1.3711. This
implies a sustained downswing in the months ahead, with idealised
targets measured to 1.2528 basis a fib. 23.6% extension of the initial
1.3711-1.2746 sell-off. Seen from the larger perspective, the expanding
flat sequence is seen as a counter-trend correction to the preceding
1.2042-1.3711 upswing. Once completed, the Euro/US$ is expected to
continue higher into late 2014, with ultimate upside remaining unchanged
to 1.4408.
Description – Intermediate wave (E) that began from
the 2012 low of 1.2042 is shown unfolding into a single zig zag
sequence, subdividing into minor degree, W-X-Y. Wave W. completed into the February ’13 high of 1.3711 and is followed by an expanding flat counter-trend correction for wave X. that is projected to downside at 1.2528 for completion. Only then is wave Y. expected to begin – subsequent and ultimate upside is forecast towards 1.4408 by a fib. 38.2% extension of wave W.

★★★★★★★★★★★★★★★★★★★★★
IF YOU NEED MORE DETAILED ELLIOTT WAVE COUNTS, 
SIGNALS 
AND
EDUCATIONAL MATERIALS, 
THEN JOIN MY VIP SERVICE!
Details here:

★★★★★★★★★★★★★★★★★★★★

About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

View all posts

Dodaj komentarz

Twój adres email nie zostanie opublikowany. Pola, których wypełnienie jest wymagane, są oznaczone symbolem *

This site uses Akismet to reduce spam. Learn how your comment data is processed.