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Elliott Wave Charting: Eur/Usd Upward Correction

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Elliott Wave Charting: Eur/Usd

The pair moved higher recently, and price action suggests at least one more push higher towards the 1.3800-50 area, before a larger down-trend can be seen.

A move from the 1.3434 lows can be counted as an upward corrective move of a blue wave (4), labeled as a red A)-B)-C) with a triangle in the middle. Once the top of a red A) at 1.3735 was taken out prices simply exploded higher, into an impulsive wave C) that may reach the 1.3800-50 area, where a top could easily be put in place. At this a turning point, and a powerful down-trend will be expected. 

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