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Thursday, May 24, 2012

EURUSD Forecast (24 May 2012)

After my session with Ray and FuzzyLogic, I decided to re-do my wavecounts all the way from the weekly timeframe down to the lower time frame.  It’s something I used to do, but I got lazy…. so here it is.

Weekly

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Daily

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8 Hourly

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Not much additional information from the Daily to the 8 hourly.  So let’s see if wave v of 3 is completed.  Down to the 15min.

15min

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Looks like wave 3 has yet to complete.  If wave .iii has completed, expect wave .iv to stagnate or end around 1.2650.  It has some good fibb convergence and S&R levels.

That’s it for my wave counts.  Take care out there!