Thursday, February 08, 2018
EUR/USD Is Developing A Fourth Wave Correction
If we examine the W1 time frame we could suppose that at the moment is developing a fourth wave (in green) from the fifth blue wave, within the third red wave.
If that supposition is correct we can expect that the corrective depreciation that has reached 38.2% Fibo of the supposed third green wave either won’t end at that level or it could develop a little more and reach 1.2125 – 1.2100 which is 50% of the impulse rally of the same wave. After that, I think, we could expect the final rally of the fifth green wave (of the fifth blue) within third red wave.