Ramki’s latest Elliott Wave analysis of the EUR/USD appears in Marketwatch today
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Hi Ramki,
thank you for your new Euro analysis.
I have a question. I’m learning, and it’s interesting to say this, the markets unfolds before us and that Elliot Wave analysis it’s a live process.
The market is a continuous stream of information. We already have information and there’s a continuous stream of new incoming information.
So, I’m curious to understand what new incoming information, if you’re a ware of it, made you come up with this new reading of the market.
Thank you!
Luca
Hi Luca, thanks for your comments. I wrote this analysis over the weekend and had no additional information other than the chart. Infact I did nt read the Sunday newspaper either! All of it comes from using Elliott Waves as it should be. These methods are all explained in my book FWTFF.
Hi Ramki,
Amazing analysis, and I am still struggling with the fib retracements as you mentioned in the last post
For the EUR/USD forecast does the final ABC have to look like the one you have shown or can’t it be a flat? The correction from May 2011 to Aug 2011 was a complex correction, and is there a possibility for the current correction to look the same way. Can you give more insight on how you decided on this one?
Thanks,
Shiva
Hi Shiva, A complex correction can take whatever shape it wants, and there will always be changes from prior patterns, even if it is only slightly different. What I am trying to show readers is the general direction of movements in the coming days, down, up nicley and down big way. We saw a down yesterday, from 1.3380 to 1.3270, for example!
Hi Ramki Sir, I just wanted to ask you from where 1.3770 target is obtained for wave-B of EURO-USD. Is it 71% retracement of wave-A and or wave-1 terminus of wave-A?
Hi Bhanja, it is 70.7% of prior A
Hi! Ramki
1.3770 possible ,a perfect diamond formation
http://imageshack.us/photo/my-images/834/4h4.gif/
Hi Dmrfx, Must confess I am not a great fan of that formation! Besides, these formations are confirmed only after they are completed and could change shape midway.
Ramki,
It took ten months for Eur/Usd to finally come around to head for completion of Wave E.
Good Job! Ramki.
Ajoy, Thanks for the comment. The EUR actually topped above 1.35 earlier and came down farther than the target of 12460 before it recovered again… it was truly a roller coaster ride