EUR/USD Forecast

Where is EUR/USD Headed for?

EUR/USD is forming a symmetrical triangle in Wave 4 of Wave III. The next move (Wave 5) will be an upside penetration.

Minimum Price Objective

The minimum price objective of Wave 5 is 1.4601-1.47. Wave 1 and Wave 3 were equal in %. If Wave 5 is extended, then EUR/USD should rally to at least 1.55 to end the impulsive phase of Wave III.

Strategy

Buy Long

Be alert on August 8. (Aug 6-10)

This is my first attempt at implementing technical analysis on FX. Lets see what happens.

Don't forget to visit:
Technical Analysis Base Website at http://www.technicalanalysisbase.com and
Sanjeet Parab Blog at http://sanjeetparab.blogspot.com

Sanjeet Parab
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