Tuesday, September 7, 2010

Short term EUR/USD

The final version of the summer corrective rally is shown bellow. Nothing new, except that the C wave of the correction has developed as a zig zag and not a  5 I've been looking for.  As for me, that had a cost of about 100 pips of missed profit.
So, now, I'm pretty sure that we've entered the 3d minute wave down with the target of at least 1.215. The crossing of 1.2587 will confirm the move and if ever we manage to bounce back ant take the 1.2922 resistance we shouldn't go higher than 1.31 level.

No comments:

Post a Comment