By: Fadi Steitie
Currency: EUR/USD
Trend Expected Direction: Down
Method: Elliott Waves and Fibonacci Levels
Description: In a descending falling trend line, a drop in trend just took a place in a larger Zigzag within triangle as of wave A and in term of motive, wave iii just completed 1.31220 and getting in a complex wave iv and that just got above 50% of the whole cycle (Black Line) targeting 0.318 Fib level or 1.31630. I expect a further drop as of wave v of larger wave (A).
Recommendation: Sell and hold
Target Area: 1.3100
Stop Loss: 1.3200
