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Elliott Wave chart analysis for the EURUSD for 9th December, 2011. Please click on the charts below to enlarge.

The euro did move to a new low as our last analysis expected, however it was followed by a strong reversal indicating that the second wave correction was incomplete and that the new low was likely set by wave B of an expanded flat.

Within wave iii pink waves (i) and (ii) green are complete.

Wave i and ii orange within wave (iii) green as seen as complete. Wave i orange is seen as a leading contracting diagonal. Wave ii orange has not retraced as deep as is commonly seen for second waves following a leading diagonal which leaves an outside chance that wave ii orange may extend further to the upside after possibly some short term downwards movement. We have included an alternate daily wave count explaining that structure.

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Elliott Wave chart analysis for the EURUSD for 7th December, 2011. Please click on the charts below to enlarge.

After a little further upwards movement the euro did what we expected with our last analysis as we had some strong downwards movement.

The strong downwards movement within wave iii pink to the downside over the last month does agree with what is expected from third waves.

Within wave iii pink waves (i) and (ii) green are complete.

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Elliott Wave chart analysis for the EURUSD for 5th December, 2011. Please click on the charts below to enlarge.

The euro has moved higher as our main wave count from our end of week analysis expected. It was however rather slow and not as strong as we expected.

The strong downwards movement within wave iii pink to the downside over the last month does agree with what is expected from third waves.

Within wave iii pink waves (i) and (ii) green are complete.

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