Will Euro recovery to 1.22 after the London Incidents???
The London incidents did not hit strongly to the stock markets the pound the euro currency. All the markets showed a quickly recovery after the hits several investors are still asking themselves why???. Maybe because the markets do not response directly to the news follow a pattern that reflect the social mood. The Blue counting shows euro unfolding a wave 4 that could be a double zig zag 3-3-3 a flat 3-3-5 or a triangle 3-3-3-3-3; all this patterns begin with two leg subdivides in three subwaves. The first resistance level is giving by the orthodox top of the wave ((iv)) one lesser degree for the upline of the down trend channel. The Red counting shows a wave (W) possible finished unfolding then a recovery in three waves called (X).
Euro Weekly Forecast Elliott Wave Analysis (edited by Matias Menendez Larre)
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