EURUSD Update As It Approaches Its Target

Note: This article was originally published on the Wavetimes Blog on 19 January 2011 and is linked to my book “Five Waves to Financial Freedom.”

The EUR/USD is approaching the target mentioned a few days back. Take a look at the attached chart. Wave C of the irregular correction is in the final extended 5th wave, and the 100% level comes bang on at the 1.3535 area. Failure there will initially cause a very fast-paced sell-off to 1.3365, but it could come a long way down in the bigger picture.

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