"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, August 3, 2013

Elliott Wave Analysis for major Currency pairs

In the FOREX page you can see the  previous long-term scenarios
on weekly charts and short-term outlooks on daily charts .


The super impulsive wave (3) is finished;
we shoud be in upward wave c minute of b minor of (4) intermediate of [1] Primary; the first target, Fibonacci 38.2% retracement, has already be reached.


New main scenario; intermediate wave (1) has completed; now we are in wave (2) target 119, the previous wave 4 .


After the rebound of wave 2 minor , we should be in the impulsive wave 3 of (1) of [C] .


After the completion of (b)/(x) we could be in the new upward wave (c)/(y) of [X] Primary.

Always in a contrasted and unclear trend, with no interesting setup.
It's likely the completion of downward wave y of b/x .


This is the currency pair where my preferred scenario was wrong (bullish rather than bearish).
The V/C wave of Cycle degree seems to be completed; we could be in a new Cycle bear market, with new downward intermediate wave (1)/(a) of [A]/[W] Primary close to completion.

Have a great weekend ;-)


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