EURZAR Long November 22, 2017Euro is strong. Buy and aim for a 1:3 risk reward ratio. Stop loss below 16.28 with take profit above 16.65
Eurobulls
Euro Is Not Done! Is it a double top? Not quite yet! It's too bullish to even think about shorting the Euro. Alright, I'll cut to the chase... Elliot wave count suggests that there is more to come for the euro. 1.22 level isn't that far away and it wasn't long ago that Euro was supported at 1.19 level. So, according to Elliot, there should be a final (wave 5) push up before we can welcome the bears to the show! Happy Trading Folks! Again, it's just an idea. Cheers!
Alternative EURUSD count is becoming my preferred!The so called "Trump effect" was again in play last week as the markets sold the USD whilst he gave his press-conference; so I thought I'd put that theory to the test and have an alternate Elliot Wave count to the upside similar to my original idea EUR Long idea I posted back in Jan 2017.
This is again is becoming my preferred count as I anticipate the a massive sell-off of the USD whilst TRUMP is in power!
Wave 1: Leading Diagonal (5 waves broken down by 5 X ABC corrective waves)
Wave 2: Triple Combo (WXYXZ) which retraced to a key fib level @ 0.618%
Current Wave: Wave 3 of 3 looks like it has started signified with an impulsive move up (circle red)
Forecast Wave: The current correction could be sub wave 4 so USD could indeed retest the 0.618% mark but the low at 1.03399 should hold.
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Happy Trading!!
