EURUSD--Wednesday, May 25, 2011
Is this too simple?
A - B - C.
B retraces 61.8% of A, then the C wave fades at the 161.8% extension of the A.
We could get only slightly more complicated with this chart.
Projecting the length of the A wave from the bottom of B, the fade is around the 127.2% mark.
And it leaves us open for a surprise move to 1.4160 and a new fade there.
