Elliott Wave Analysis & Forecast, EURUSD, M1, 20161213

No change in my view since previous publish, market are going down usually as expected. The correction in blue wave b converted from flat to triangle and red wave 3 ended at 1.1300 also finished blue wave b of Y. After that we saw a quick decline in last blue wave c and the ideal target for this wave is near 0.8500 area. This area has lot of support as long term green wave II will finish here. traders can enter into short trade from current price targetting major psycological area 1.00. Stop loss will be slightly above 1.0800.

muhiuddin