欧元持续发展向淡C浪2014-1-23 14:35:34

EURUSD continued to hold firm Wednesday but the movement from 1.3507 looks corrective, leaving EURUSD vulnerable.

Wave iii continues to unfold and EURUSD should continue lower with only minor rebounds or consolidations along the way. Targets for wave iii lie at 1.3360 and 1.3150, where it would travel a distance equal to and 1.618 time wave i. The latter is typical for the usually extended third wave.

A break of the 1.3500 area would break the lower channel line, another sign a turn lower has occurred.

Alternate count: A larger expanded flat wave ii correction is possible and would delay, but not change, the bearish outlook. A rally above 1.3649, starting from not much below 1.3517, would trigger this scenario which would result in a rally above 1.3699 in wave ((C)) of ii. The 1.3757 area would likely offer resistance. Again, the expanded flat would only delay the resumption of the larger bear trend.

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