If you are looking for a EURUSD update as we spproach target that I published in January 2011, that article is here. It is linked to my Elliott Wave book Five Waves to Financial Freedom. I have rewritten that article to include fuller details about how we can find irregular corrections in a down trend. The title of the new article is Can we get an irregular correction in a down trend? You will automatically see that article.
I have produced the originalarticle below. In this update, notice the EUR/USD is approaching the target mentioned a few days back. Take a look at the attached chart. Observe the Wave C of the irregular correction in the final extended 5th wave. 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. Thus, the EURUSD update as we approach the target suggests the possibility of further downside.
