Elliot Waves Signal 21 September 2007

EUR/USD

Medium term trade.

TimeFrame = 4Hrs

Signal = BUY market price.

Risk Reward Ratio =Between 0.0 to 0.5

Short term target for Extended SubMinutte Wave v at 1.4200 area for 1st target and 1.4400 for 2nd .

Stop Loss at 1.3820 area.

EUR/USD Elliott wave Analysis :-

Euro has made a bullish rally since 1.3400 and just few days back it touched our previous EUR/USD target and break a new record high >1.4000 barrier.Since then market traded above that level.

For our latest EUR/USD signal we expect a minimal expansion for the first target (1.4200) and if market still pushing Euro then we could see extended wave v reached at 1.4400 area.

Still there is a BIG possibility of trader having their 1.4000+ earning pulled out.If that happen we could see first EUR/USD correction towards wave a , b and c as illustrated below :-

elliott wave

By: Elliot Waves Signal Prognosis



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