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(Elliott Wave) EURUSD Sideways Within A Triangle

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Oct 12 2012

EURUSD found the support yesterday and rallied back above 1.2930 after unsuccessful push through 1.2804. As such, our triangle count is still in play. In fact thats now primary labeling for fourth wave, but pattern, however, is still far away from completion. Triangles are five wave patterns, so if we are correct, then market will remain trapped in 1.2800-1.3070 range for few more days as current rally represents wave (d). If our interpretation is correct, then 1.2800-1.2820 support zone should not give way.



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