We combine techniques irrespective whether it belongs to fundamental, technical or any other genre that you classify. It does not matter as long as it helps me to increase the accuracy of research and trading.
Below is the chart picked up from the monthly equity research report that shows how well the Time Cycle along with Elliott wave worked in capturing major lows of EURUSD.
EURUSD monthly chart: (Anticipated as on 6th of March 2019)
The US Dollar and the Euro are two of the most prominent and well-known currencies in the world. The Euro versus US Dollar (EUR/USD) currency pair has the largest global trading volume.
On monthly chart, we are showing 47 months Time Cycle. This cycle has managed to capture major lows of this currency pair. The low made near 1.0342 levels was also captured by this cycle and post that prices witnessed a sharp rise in form of wave (i). Wave X has completed on downside indicating one set of up move is still pending on upside in form of wave Z. Prices are moving within the upward slopping blue channel. As long as support trendline is intact on downside move towards higher levels can be expected.
In short, it is advisable to keep a close watch on ….. levels on upside and ………. on downside. Break of ……..can retest the highs of ……….. levels with major trend changing for this currency pair to upside after many years of downside correction. Get ready for a major breakout in this pair and the entire globe will keep wondering what changed in US Dollar and why it started collapsing against EURO!
The above research clearly shows how one can capitalize the study of Elliott wave and ride the ongoing trend. To know more about our next monthly pick and to ride the trend of indices like Nifty 50 you can get access to our report named “The Financial Waves Monthly Update”- Get access now
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