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EURUSD--Wednesday Morning, March 25, 2009

The corrective movement in EURUSD since impulsive top last Thursday (March 19).

090325-0903-Eur1hr.gif


  • A--3 waves down with a low 200 pips below the high. The third wave--(c) of A--ends 1.618 times the (a) wave. This occurs near the end of the London morning session on Friday, March 20.

  • B--A 3 wave irregular countermove. (It exhibits a sort of deformed impulsive character. If the (a) of B is seen as an alpha wave and the (b) of B as a beta wave, then the base they form--a very irregular base--presents a delta 1.618 extension right around the level where the (c) of B ends.

  • C--The final move is extended in time, taking a little more time than the first 2 waves added together. The (a) of C ends 1.272 times below the complete A 3 wave pattern. The (b) of C is approximately the length of the entire A wave pattern and runs out of steam about 61.8% into the initial A wave area. The (c) of C ends 1.618 times below the complete A 3 wave pattern.



Posted by Pure Guesswork on March 25, 2009 9:14 AM |

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