Elliott vs. Gann: Another View Of EUR/USD

Ville Vainio

May 25, 2015 @ 3:53 pm

EUR/USD has come down a little today but not much. This is likely a small degree correction on this minute wave 3 and the decline will accelerate when this correction is finished. My preferred wave count sees this next wave down to reach at least 1.075 level. Eventually this larger bearish trend will continue to new lows beyond 1.046.

May 23, 2015 @ 2:56 pm

Minute wave 3 decline has started on EUR/USD and should take EUR/USD towards minor wave B low at 1.052. 1.618 Fibonacci expansion projection gives a target of 1.0538. This would be ideal target for minute wave 4 correction to take place. Eventually I am looking for a decline below 1.046 to new lows but not to parity level.


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