300 Minute Bars

eliottWaves_eur-usd_body_eurusd.png,

Prepared by Jamie Saettele, CMT

I favor a EURUSD run into the 15000s over the next few months but it doesn't make sense to get long until price either exceeds 14516 or there is sufficient evidence to suggest that the correction is complete at lower levels. Near term weakness could find support at the trendline that extends off of the July and August lows.