Short-Term Update on the EUR/USD Currency Pair by Sid from

Short-term Update on the EUR/USD Currency Pair by Sid from Click on the chart twice to enlarge.

Since last posting about the Euro, I think we’ve seen 5 waves down for pink wave 1. Pink wave 2 appears to be carving out an expanded flat. Wave C green of the expanded flat is nearly complete as an orange 12345. Wave 4 orange appears to have been a triangle. Using Elliott’s triangle measuring technique, the thrust target for wave 5 orange is at 1.3345. A more general target zone for the end of pink 2 is between 1.3331 and 1.3359.

A shorter MACD histogram bar than the previous MACD histogram bar on a 180-minute chart should offer a solid clue that the thrust from the triangle is over.

EURUSD 90m 9-11-13


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