"All human activities have three distinctive features: pattern, time and ratio - all of which observe the Fibonacci Summation Series" (R.N. Elliott - "Nature's Law - the Secret of the Universe" - 1946)


Saturday, November 10, 2012

Intermarket Analysis DAX and EUR/USD

DAX
Preferred scenario:
congestion could be finished;
I'm waiting for a last upward wave y to completion (b/x) wave, then starting a new intermediate bear market cycle.
(see weekly chart on October 27th post for my long-term view)




EUR/USD

Eur/Usd has reached a Fibonacci price and time cluster (in time, wave a = b; in price, wave b = 0.382 * a)
the third wave bullish begins?
(see weekly chart on October 27th post for my long-term view)


Have a great weekend!

ElwaveSurfer

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