EURUSD has been very stubborn in its attempt to hit the 61.8% Fibonacci level twice. It looks like this effort is going to be successful, because wave “c” of Y of (X) needs to be completed. In other words, figures around 1.39-1.40 should be reached, maybe during the first couple of weeks in 2014. After…
Both EUR and GBP look weak against the US dollar, but which one of them is weaker, compared to the other? There are two wave counts on the charts below, suggesting that the EUR should be stronger than the GBP in the long term.
Despite all new highs, which EURUSD recently made, this pair remains bearish. Expect a reversal to the downside from that 61.8% Fibonacci level.
EURUSD and USDCHF look ready to resume their larger trends after the FOMC report. According to the Elliott Wave Principle, when the market has drawn a 5-3 wave model, at least another five waves should be expected in the direction of the previous five, thus making the whole pattern 5-3-5. So, our idea is to…
