After taking a very long rest, our team is back to provide you the latest analysis and signal using Elliott Wave combined with Fibonacci to predict the price direction and ride the trend.
With our new approach, instead of trying to label the wave count as whole to the chart, we would only label the visible pattern which is the most recent.
As you can see, we have identified an impulsive 5 waves down of i,ii,iii,iv,v which form wave (A) or alternatively wave (I). Wave (A) are followed by wave (B) with a,b,c inside of it.
Currently, EURUSD depreciates after making a one week High at 1.4576 and made a new one week low at 1.4285. Combined with the fundamental issue which is Greek's debt crisis stimulates the price action and now looks like Euro has completed wave i of (C) or (III).
By using Fibonacci, retracement is expected and Euro would probably heading for the Fibo levels at 50.0, 61.8 and 76.4.
TRADING PLAN : Place a Limit Order to long Euro at 1.4300 with a take profit at 1.4435 (50% Fibo retracement level) or you can place your Take Profit at higher Fibo Level. Make sure to use trailing Stop Loss. Place Stop Loss below 1.4285 level (which is end of wave i)
To Our Success,
Elite Bisnes Team
*Beware, our prediction is not guaranteed to be accurate. Always control your risk and don't be greedy.
THESE SIGNALS/ ANALYSIS ARE PURE FROM OUR TEAM. PLEASE APPRECIATE OUR HARD WORK AND DON'T BE A COPYCAT.
Elite Bisnes Team
