Eur/Usd ride is like a roller coaster for the last few days if not weeks, ups and downs with 200 pips and more. From a technical Elliott Wave perspective that’s all normal if you consider a triangle formation. Triangles are structured by five legs, A-B-C-D and E, and as such, we anticipate even more sideway as we still need to see waves D and E before a triangle can be completely finished. Here is a basic triangle structure which occurs in wave four in an impulse or in wave B position of a zig-zag.
Guest post by Gregor Horvat
Be patient, we don’t want you to get caught in this range bound market, but we favor a bearish scenario as long as the Eur/Usd trades below important 1.3500 resistance region.
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