It is possible that the EUR/USD has completed an ED and is about to rebound. It is also possible that one more small leg down will be occur to finish the throw over of the ED. Initial target is 1.476 however it is likely that price will retrace further through to 1.49, if we have indeed seen the end of wave 1.
Wednesday, December 16, 2009
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If that plays out, what do you think would a decent Target for Wave-iii down ?
ReplyDeleteThat depends on the ending point of wave 2. An initial target would be the point where wave 1 equals wave 3, however wave 3 usually extends so it would pay to hold onto some positions in the event of an extension.
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