Stock Market Analysis With The Elliott Wave Principle
-Dow Jones, S&P 500, Russell 2000, Nasdaq and FX.
All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
Hi Grand, If this is a 5th wave extension, which is often the case in currencies, then we could see a zig zag rally back to 1.3700. A retrace after a 5th wave extension will usually rally back to the second wave. I think 1.3000 will be tough though and would be a neckline test of the head and shoulders pattern on the weekly chart.
Hi Grand, If this is a 5th wave extension, which is often the case in currencies, then we could see a zig zag rally back to 1.3700. A retrace after a 5th wave extension will usually rally back to the second wave. I think 1.3000 will be tough though and would be a neckline test of the head and shoulders pattern on the weekly chart.
ReplyDeleteKeep up the good work.