EURUSD Beginning Rally on 5th Elliott Wave

4 Eyl 2016

EURUSD is beginning the final 5th wave to the upside into the supply zone. The 4th wave has retraced down to the 61.8% Fib level and is beginning to rebound to the upside, which makes it a promising indicator of the beginning of the 5th wave rally. Will wait for price to break the 76.4% and 100% Fib levels and close above the 50 MA then enter a CALL projected to the supply zone where there will be a potential pullback and correction wave.