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#4 (permalink)

08-27-2008, 05:11 AM

soso-xx

Member

Join Date: Jun 2008

Posts: 93

soso-xx is an unknown quantity at this point

EURUSD

Same with EURUSD, as much as I'd want it to go down I think the last V wave has ended. Looking at H4 alone it looks like a 3 wave move down, but zooming into H1 we can count it as a 5 wave move down too. True, the proportions of waves 1 and 2 are not the best ones but I think this possibility should be considered too.

All in all things are not clear but if USDJPY heads down with force thourgh 108.7 then I will assume that USD is weakening again and EURUSD has bottomed and this scenario is valid.

Later edit: In the below snag the sub-waves of I...V pattern are not shown (they are in previous posts) only the subwaves of V.

Attached Thumbnails

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