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.
Monday, October 4, 2010
10/4/10 - EUR/USD
The EUR/USD may not have completed it's move yet. I still show a Fib target of 1.40 as a likely place to land, not required, but likely.
I also show wave 3 red of 3 or C blue ended with an ending diagonal but now a pullback will only be wave 4 red of 3 or C blue. See second chart.
A channel drawn using waves 1 and 3 red shows a potential wave 4 red target of approximately 1.35.