EURUSD update as we approach target

The EUR/USD is approaching the target mentioned a few days back. Take a look at the attached chart. Wave C of the irregular correction is in the final extended 5th wave, and the 100% level comes bang on at the 1.3535 area. Failure there will see a very fast paced sell off initially to 1.3365, but in the bigger picture, it could come a long way down.

Update on 29 August 2019:

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Author: Ramki Ramakrishnan
35+ years of market experience shared on Wavetimes. It can change the way you trade, FOREVER. Check it out. I am the author of "Five Waves to Financial Freedom", one of the best-selling Elliott Wave books on Amazon. An international investment banker, treasury manager and adviser to hedge funds FIs and HNIs from around the world.

4 Comments

  • Patt

    Thanks Ram for sharing. The price has come to 1.3538 amazingly right at the 100% area. I missed the ride up but will ride the down wave now.
    I prefer when you put a shorter time frame chart like this.
    Have a great day.

  • Ali

    Hi Ramki, its amazing how you got nailed this call so accurately, to the pip…….But whats really mind blowing, is that you had this pin pointed almost 3 or 4 days back.

    Best Regards,
    Ali

  • BHARAT MANGUKIYA

    We cannot be counting the wave as you counting in the blog. Some lower degree waves you missed between 2-3 wave but if we try to count them, then it creates different images.
    By reading your book, we know what are waves and about counting the waves, but in the real picture, we feel difficulties to execute the waves on chart.

    • Ramki Ramakrishnan

      Bharat, You are not alone in experiencing these difficulties. A couple of points to help you along. When lower degree waves are not clear, stick to larger degree waves! Ask yourself whether you are trying to become a ‘guru’ and teach others how to count waves, or whether you are trying to make money by trading! Secondly, always remember that wave counts are only a tool to help you trade. These concepts have been explained in my online program, which is currently on a 50% sale.

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