Elliott Wave Blog
The decline so far is in three waves and may have completed wave ‘a’ pink.
The low of wave ‘iv’ must stay above 1292 to remain a valid five wave structure.
So we have a good cushion at the moment.
I was looking for a further rally today to close out wave ‘5’ pink.
And after a small decline this morning,
the market rallied again and topped out at 1343 so far today.
Watch the reaction to Fridays selloff.
A corrective flat market will signal that a turn down is again on the cards.
Short term chart update. Normal service resumes 4th of Sept.
The future for EURUSD is most deffinitely down,
in a big way.
And as we cycle through the wave count,
We are getting closer and closer to that turning point.
The price range continued to contract in GOLD today,
This market is preparing for a large move once this triangle is complete.