Month: October 2016

EURUSD: Is That It For the Euro? Maybe Not Just Yet.

As expected the euro moved helplessly towards the downside and is now only 39 short of reaching our first target. And now the market is in one of those “decision” points…

On one hand, price is right around a cluster of support levels, in terms of both actual price and wave pattern, so it’s very likely that the downwards potential is limited.

On the other hand, we don’t want to go too early against the prevailing trend until we have solid evidence of a trend reversal, especially since we may actually be in the very early stages of a very strong downtrend.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points.

GBPUSD: Elliott Wave Weekly Road Map!

In the previous analysis, the main count expected upwards movement while the alternate count focused on the downwards probabilities for Cable.

Cable confirmed the alternate count and both targets were reached and exceeded.

This week`s main count expects Cable to continue downwards while the alternate count expects upwards corrective movement before resuming the downtrend.

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