WaveTrack International

Elliott Wave Financial Price Forecasting

A huge test for EUR/USD is coming fast!

by m.tamosauskas| January 25, 2015 | No Comments

150125_EURUSD150125_EURUSD

Syriza wins Greek election and EUR/USD tumbles down in the fastest pace since the July ’08 high of 1.6040. However, a seven-year decline is clearly overlapping and every Elliott Wave enthusiast should notice that it is composed of seven price-swings – a common characteristic of a counter-trend sequence. A fib-price-ratio analysis suggests a real test of this decline will come very soon at 1.1065 price level. This is derived by using a fib. 100% equality ratio between the initial three wave decline (1.6040-1.1876) and the secondary three wave decline that began from the May ’11 high of 1.4944. A reversal signature to the upside from this support level would confirm the completion of a double zig zag pattern, labelled A-B-C-X-A-B-C in primary degree. Stay tuned!

Category: Elliott Wave, Elliott Wave Charts, Elliott Wave Patterns, Elliott Wave Principle, Euro / US$, Fibonacci Trading, FX, WaveTrack International
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WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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