EOS Analysis 7/09 EOS-USD

EOS / USD is still in correction mode and unfortunately failed to quite reach its target price of $18.00 for wave b. At $15.54, it was over and another dynamic downward movement followed, possibly representing the final wave c.

With reaching the Fibonacci target area in the range of $ 7.65 / $ 8.70, a possible correction could be concluded and a stabilization at this price level is now forming.

The wave count is still valid and there is the possibility of a trend reversal or continuation of an upward trend. That would mean wave five after this count.

This wave count can only be declared invalid if it falls below the $3.87 mark. Then wave 4 would hurt the low of wave 2 and that is not valid in an up-impulse.

However, I currently do not estimate that the correction will extend as far as there. That would be more than halving the price from the current level. I don't think that's very likely.

This is NOT investment advice and does not encourage buying or selling. Every reader is aware of this and makes his own investment decision with his own understanding of risk management!

Cheers Jessy