EUR/USD Elliott Wave Analysis EUR/USD – 1.1790

EUR/USD: Wave (c) of 2 ended at 1.3993 and wave 3 of III has commenced for weakness to 1.0411 (1.236 of wave 1), then 1.0000.
The single currency met resistance at 1.1863 last week and has retreated, retaining our view that further consolidation below resistance at 1.1961 would be seen and test of support at 1.1713-17 cannot be ruled out, however, break there is needed to signal the rebound from 1.1554 has ended at 1.1961, bring further fall to 1.1660-65, then towards 1.1620-25 but said support at 1.1554 should remain intact. .
Our preferred count on the daily chart remains that a wave (II) from 1.2329 ended at 1.5145 with A-leg ended at 1.4720, followed by wave B at 1.2457, the wave C from there was also a 3 legged move and is labeled as (a): 1.3739, (b): 1.2885, the wave iii of the 5-waver (c) from 1.2885 has ended at 1.4339 and wave iv is a triangle ended at 1.3878 and wave v formed a top at 1.5145. The decline from th..Read More →

Electricity restored at Atlanta International Airport after hours-long outage Electricity has been restored to Hartsfield-Jackson Atlanta International Airport late Sunday, hours after an outage unleashed havoc on travelers around the country, leading to hundreds of flight cancellations during one of the most hectic travel periods of the year.
The power went out at Hartsfield-Jackson—the busiest airport in the world by passenger traffic, with an average of 275,000 passengers daily—shortly after 1 p.m. Sunday, according to airport officials.
Shortly before midnight, Georgia Power tweeted that power had been restored to all essential services at the airport, including all concourses and flight operations.
The outage may be linked to a fire that caused extensive damage to a Georgia Power underground electrical facility, the utility said in a press release.
An expanded version of this report appears at WSJ.com.
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Opinion: Entitlement reform is the toughest test for Republicans Pushing tax reform through Congress will prove a significant accomplishment, but it pales by comparison to the challenges the Trump administration has indicated it will tackle next — infrastructure and entitlements reform.
Tax cuts will leave federal finances constrained but not as much as critics complain.
According to the Joint Committee on Taxation, the Senate package, which provides a decent approximation for estimating the likely consequences of a final tax bill, should increase gross domestic product by 0.8% and generate about $400 billion in net new revenue over the next 10 years. Hence, a combined $1.4 trillion corporate and personal tax cut should increase the deficit by about $1 trillion dollars.
By my reckoning, the JCT appears to be employing very conservative multipliers for the impacts on consumer and investment spending and GDP. Applying more moderate estimates, I come up with additional growth of 1.9% a..Read More →