Currency: EUR/USD
Method: Elliott Waves
Description:Following the principle of motive waves, I was able to spot wave (iii) at nearly 2.618 Fibonacci level / 1.3000 price point. Logical trader would say what would happen to Y If X factor became known. With this logical approach, I would keep the pair in my watch list to see if a ZigZag shaped up as wave (iv) in a simple form and completed just near 1.2900 price level to say Yes I know now what is X. So lets watch level 1.2900 as a best buy in this situation for maximum profits and minimum risk because we would tell where Y ends!! Stay tuned for further details later on today.
Recommendation: Keep it in watch list for today and keep your eye on 1.2900 level.
Stop Loss: N/A
Target: N/A
