EUR/USD Chart

Big Picture Elliott Wave: The triangle on the 4 hourly Eur/Usd chart may be completed soon. The market made a bounce from the 50% Fibonacci support area after a retracement in the black wave B), which is also the second leg of the three waves in red E. If this wave count is correct then we can expect a short biased turning point of great strength somewhere around the upper trend line resistance, and at the 76.4% of wave D retrace. The current wave count will be valid as long the wave C highs hold.




Written by Grega Horvat - thelfb-forex.com