Tuesday, 22 November 2011

EURUSD still holds 1,3422

eurusd is back testing the broken blue line....however, the inability to break 1,3422 is promising a move close to 1,3622 and probably higher. The blue line must be taken over in order for the rise to accelerate. Still 1,3422 remains major support and I believe its a very good reverse point for long positions. There is however an alternate wave count that has 5 waves completed, but the 4th is very small relative to wave 2. This means now that we are now at wave c of 2. 1,3460 important support, almost as imortant as 1,3422.

eurusd has found great resistance at the red line...I believe this line is of great importance. Bulls should be extra careful now. 1,3422 is great reverse point imho.

No comments:

Post a Comment