FOREX PRO WEEKLY January 05-09, 2015

[Sive Morten]

Like this, Sive?

Not quite - we need to get extension of 2nd drive - you need to draw it from the top of the second drive to low around 0.82 of the second drive. And theoretically 3rd drive should stand at 1.27 of it...
If I do not miss something - you probably take low right after the first drive, but we need the low after second one...

 

[Venelin]

And now?............
Which will be the next future of EURUSD?

Nice weekend to everybody!

To me slow and painful correction folows until 22nd

 

[cosmos]

EURUSD Yearly

Not quite - we need to get extension of 2nd drive - you need to draw it from the top of the second drive to low around 0.82 of the second drive. And theoretically 3rd drive should stand at 1.27 of it...
If I do not miss something - you probably take low right after the first drive, but we need the low after second one...

I have not been drawing my drives correctly. If this is now correct, it reached the target almost. It missed it by some pips. The peak was 1.6038. The 1.27 target was 1.6231....

 

[Sive Morten]

I have not been drawing my drives correctly. If this is now correct, it reached the target almost. It missed it by some pips. The peak was 1.6038. The 1.27 target was 1.6231....

Right. This is in general matches to GS current expectation - parity within couple of years...