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楼主 |
发表于 2008-5-2 20:35
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Eur/usd
Hey everybody,
Here's my thoughts on EUR/USD. First, one possibility of what's going on short term is that wave 'E' of the triangle is still forming. There are five waves down and so far a correction looks to be forming. Price is currently trading near the 50.0% retracement of that first five wave decline. One more five wave move to the downside would complete wave 'E' and also then complete the triangle.
Second, when you look at the weekly chart you can see that there are only 11 waves to the upside. In Elliott Wave, impulse moves come in patterns of 5,9,13... Since we are only at 11 waves up so far, it is impossible for the move to be over now. One more wave to the upside has to occur to finish the move in accordance with Elliott Wave rules.
Any comments on this?
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