EURUSD 60minute 6-14-13

Elliott Wave Update on the Euro from Sid at Click on the chart twice to enlarge.

In my last post (on June 6), I said that the Euro would continue to chop higher in a series of 3-4’s. This appears to have occurred, and now the EUR/USD pair may now be putting in a green 4 triangle, which would nicely fulfill the guideline of alternation, as wave 2 green was a running flat. This would be an optimum development for Elliotticians, as we would soon be able to measure the size of the triangle, and estimate the length of the green 5 upward thrust. If this main count is correct, a textbook shorting opportunity will result upon the completion of green wave 5.

Have a great weekend!