Elliott Wave Analysis of the EUR/USD Currency Pair by Sid from ElliottWavePredictions.com. Click on the chart twice to enlarge.
Here’s my end-of-the-week “take” on the Euro. Next week is important, and there are three things I’ll be on the lookout for as confirmations of a major trend change: 1) a clear 5th wave down, with MACD divergence on 180-260 minute charts during wave 5; 2) a break of the (blue) trend line connecting the extremes of blue waves 2 (Jan 10) and 4 (July 12); and ultimately: 3) a break of 1.4055.