'BIG" PICTURE OF EURO DOLLAR ELLIOTT WAVE FIBONACCI ANALYSIS
This is the 'BIG' picture Elliott wave analysis of where/what price the euro/usd may be heading;ultimately the euro WILL fall below parity to ATLEAST that 1.272 extension of red(3) to .95. Notice that black circle X from may2014 ended a super triangle that never reached the upper end of that ltblu ACE trendline but began this impulsive down move that we are now in (bluecircle12345). Now, red(4) target should bullish retraceup to around the.618 retracement to 1.18 since 4th waves retrace to the golden mean when looking at waves 1-3. Purple (4) could be reached at 1.25 if we get a (X)-(Z)-extension after this W-X-Y move but that would end i a triple combination and that doesnt happen often in the euro.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.