Showing posts with label fibonacci. Show all posts
Showing posts with label fibonacci. Show all posts

Thursday, September 15, 2011

EURUSD heading to new lows!

EURUSD appears to have completed it's 4th Wave correction and should be heading to new lows in a fifth wave. Notice how Wave C Blue ended roughly .618 further than Wave A Blue, as well as just above it's trendline. This is typical of a C Wave.
*Wave C must be an ending diagonal to account for the overlap between Wave 1 Black and Wave 4 Black.