First looking at this chart shows correction after big trend in the 4 hours period of renewal.
Levels of Fibonacci also shows correction after September 17. My resistance line around 1.2800 Also pair EUR/USD could drop to 38% (down to 1.2740) Next drop level 50% of the first wave. I think pair EUR/USD could take long horizontal flat with channel between 1.3200 and down 1.2650. And then FOREX pair can continue up trend.
EUR/USD Detail Forecasts All moving averages are below the currency pair. Oscillations of the price chart are damped. Murray levels show that the price of the currency pair is in the neutral zone. Small waves around EURUSD=1.3000 Will lead to more traffic in the future. If this is the first wave and the correction in the form of the second wave, we can expect a strong move in the form of the third wave and achievement in the area of ~1.4500
 |
| Analytical Forex Forecasts by Waves analysis |
 |
| October 17 Currencies Pair Euro to Dollar Time-frame H4 Analytic Forex Forecast |
 |
| Eur/Usd is moving in horizontal channel after 9/17/12 Neutral line Murray also shows this flat. |
EUR/USD H1 10/17/12 hourly time-frame.
 |
| Time-Frame H1 pair EURUSD Date 10/17/12 Horisontal channel with boundaries 1.2800 and 1.3150 |
In the Time-Frame H1 Forex pair Euro to Dollar has been formed the Fourth Elliott wave. if the pair consolidates, we can open a transaction at Long.
 |
| For Example Divergence at the Time-frame H1 for pair Euro to Dollar, and also shows chart with formed third Elliot wave. Price is above the 161% (1.3096) |
Recommended for reading:
