Elliott Wave EUR/USD

[JahDave]

I've seen this before........It looks like consolidation across the board.......that probably means that everything is going to go in the direction of the short term trend eventually and then reverse the trend.

 

[JahDave]

In my opinion we should have one last move up on the EUR_USD, AUD_USD, NZD_USD, GBP_USD,,,,,,,etc., but because the Dow had such a down day the currency markets don't know what to do tonight, so they are just waiting for the U.S. stock market tomorrow. In my opinion the Dow is making a very large flat and it is at the bottom of wave 2 now, so tomorrow morning it should go up taking the European currencies with it.

 

[JahDave]

Potentially exciting news on the JPY.. The last move down was not impulsive, but this move up potentially is..... It still doesn't qualify yet as an impulse move up, but if this wave 4 doesn't go below the .8504 and it makes a new high for wave 5 then I'm going to say that this is wave 1 going up.

Still good news for the USD_JPY, if it doesn't go below the .8517 it still looks impulsive up........

 

[JahDave]

Still good news for the USD_JPY, if it doesn't go below the .8517 it still looks impulsive up........

We should be able to move the level up to 85.32 now....

 

[JahDave]

Euro update. I was wondering why the Euro was not going higher, because a wave 2 retracement is almost always deeper than a wave 4. So, here is a 3 hour chart and a daily chart. I called the wave 5 that completes the wave 1 on a larger scale early (imagine that.......LOL). I think I've said several times in my thread that I usually call things early. Anyway, here are the charts,,,,,,, the Euro should have one more push down before starting wave C up.....

 

[JahDave]

Euro update. I was wondering why the Euro was not going higher, because a wave 2 retracement is almost always deeper than a wave 4. So, here is a 3 hour chart and a daily chart. I called the wave 5 that completes the wave 1 on a larger scale early (imagine that.......LOL). I think I've said several times in my thread that I usually call things early. Anyway, here are the charts,,,,,,, the Euro should have one more push down before starting wave C up.....

Also the lower odds are that the entire Euro correction is over. I gave that a 25% chance of being the case several weeks ago and I'll give that a 15% chance of being the case now.

 

[JahDave]

Here's a 5 minute NZD chart. This a wave 5 on a very small scale finishing out. This will complete wave 1 and then the Kiwi should drop for wave 2, but not below the .7040, so I am definitely buying at the .7150

 

[JahDave]

OK, I just bought Kiwi.

 

[JahDave]

And btw, my profile pic is my dog Romeo. He an 11 year old Jack Russell.

 

[JahDave]

This a very typical wave 2 deep retracement. It should accelerate up very soon now.

 

[JahDave]

Definitely time to buy now. The big boys are trying to take the small player's money.

 

[JahDave]

Definitely time to buy now. The big boys are trying to take the small player's money.

If it breaks below .7040 then bail out, but I bet it doesn't...

 

[4xpipcounter]

I thought that was you, and I was going to say how handsome you looked.
We were talking to a friend about Tucker, and showing her a picture. I was telling her he is m'boy. She says, "I know I can see the resemblance". I pretend to blush, and then reply, "C'mon, I really can't be that handsome.

And btw, my profile pic is my dog Romeo. He an 11 year old Jack Russell.

 

[JahDave]

I can't be that handsome either, but sometimes I am that shaggy........I am just an old redneck boy from South Carolina........LOL

 

[JahDave]

If it breaks below .7040 then bail out, but I bet it doesn't...

Okay I was wrong. I'll still bet we are in flat and the Kiwi goes back up to the .7070 range.

 

[JahDave]

Okay I was wrong. I'll still bet we are in flat and the Kiwi goes back up to the .7070 range.

Actually from an EW perspective the first wave was five and that's why it faked me out. That means that we are probably in an expanding triangle and that the Kiwi will go a little higher than the .7070 area.

 

[JahDave]

Actually from an EW perspective the first wave was five and that's why it faked me out. That means that we are probably in an expanding triangle and that the Kiwi will go a little higher than the .7070 area.

So it will probably go down a little farther and that makes me happy, because the farther down it goes then the higher the other way it will go.

 

[JahDave]

Also I like triangles because they are always in the next to last position of a move. If it is an impulse move then they are always a wave 4 and if they are in an ABC correction then they are always the B wave. Either way they tell you the train is pulling into the station and a nice tradeable move is coming up next.

 

[JahDave]

In Elliott Wave Theory there are 2 different kinds of triangles. One is a 55555 and the other is a 53535. It looks like we have the latter and either formation can either be an expanding triangle or a contracting triangle. So from an early observation it looks like we have an expanding triangle on the Kiwi that is going to be 5,3,5,3,5.

 

[4xpipcounter]

Cocoa would be proud. She is my wife's long-haired yorky/chihuahua.

I can't be that handsome either, but sometimes I am that shaggy........I am just an old redneck boy from South Carolina........LOL