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We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
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  • EURCHF Elliott Wave Analysis: Triangle In Progress  0 comments
    Dec 10, 2013 3:19 AM

    On EURCHF, it seems a triangle in progress both on weekly and daily chart. We know that triangle is a corrective pattern in Elliott Wave Theory.

    EURCHF price is moving down on a daily chart within wave C) of a triangle. Nothing interesting here, but we see some support that comes around 1.2100/30; swing low from March 2013 and a trendline. From that trendline support we would expect a new rally but with limited upside as this will then be still only wave D) of a triangle.

    EURCHF Weekly

    EURCHF DailyWritten by ew-forecast.com

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