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  #902 (permalink)  
Old 09-23-2008, 02:04 PM
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Originally Posted by brad_1199 View Post
I believe we are going to see higher prices in EURAUD still while the correction completes... the 61.8% retracement of the 5 wave decline is at 1.7864 so I've got my eyes on that area for a downward reversal.

Now as for targets on the downside, mine have changed to follow the new wave structure. I'm going to be aiming for 1.6231 (100.0% extension of the 5 wave decline) as well as 1.5609 (161.8 extension of the 5 wave decline) -- Depending on where this upward correction finishes, I will also have other shorter term targets on the downside, but I must wait for completion of the correction until I can peg those numbers.
I totally agree with you and ever since this morning I have been long and my numbers are a little diff. from you as for target but I take yours since I know you have more experience than me for sure!!
I am also posting a chart of EUROUSD weekly which clearly indicates the price has to go up to around 1.5 level after the correction is over!!

I thank you Brad for the update on EUROAUD since I am pretty heavy on this pair.

Edward,
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