Euro 4 April 12

Monthly trend – Gold trend channel

Weekly Trend – Red channel

Daily Trend Purple Channel

Current MAP Wave Count H-2 of 4H-3 of D-3 of W-5 (M-1)

VALIDITY IF MOVEMENT WITHIN APPROPRIATE PIVOT SCALE VALUES SHOWN

The next primary trend change is expected near the orange circle. This is estimated from current daily trend intersecting near the Weekly trend warning line -1 (because the weekly trend is against the monthly trend turning points often occur around this WL) and the yearly trend ML, sometime around mid 2014.

The medium term outlook to mid 2012 is shown below

The Orange circle shows a valid count to D-1, however this may be a D-1, D-2 correction, meaning that the wave count may be that we are in an extension of D-5 to below 1.8770. This is unlikely as the larger scale trend  above shows a much lower expected target area for D-5 in the region of 1.0000.

Pivot 4H-3 is expected in the area of the blue circle, around 1.22 in the second half of 2012.

Points of interest;

D4, D-4, and 4 hourly pivots all turned at or near the thin orange line – this is the M2(1985)3(1995)4(2000) MLL – showing the importance of old trend lines!

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