FXCPS

Forex Chart Pattern Signals

Friday, July 14, 2006

Euro Projection Daily Chart



The chart above shows the possible price projections for the ABC wave. If we continue our downtrend momentum (and we will undoubtedly have smaller waves up and down within the bigger downtrend wave) then the price could well hit those projections.
As always though, please do your own analysis.

Euro Resistance Daily Chart




Above is the daily chart of the Euro. Earlier this week I uploaded my Elliott waves and after having been asked yesterday if we have hit a top, I decided to upload a newer chart showing resistance and reversal. The three thin blue lines are my reference points. The thicker red line and thicker blue line are the projected points.
The thick blue line shows the resistance and possible price turning point and since hitting that price then we have headed down.