fbpx

EUR/USD dangling on the 100 Hour SMA bouncing up and down off of it for the last few hours. A break below should be off to the races #fx $$

(Last Updated On: February 8, 2012)

EUR/USD dangling on the 100 Hour SMA bouncing up and down off of it for the last few hours. A break below should be off to the races #fx $$

 

==

Perhaps..I have support between 30 & 40 across 6 timeframes that it will have to break first..Right now (and depending on price action at the time) I think I’d be more inclined to take a tentative long at those prices I mentioned – if we see it..

 

==

A nice 102 pip move there from 1.3032 – chi ching! 🙂

 

==

This was a Wave 4 support which I had between 1.3017-41. It’ll go up to around 1.3450-90 before it corrects for a little longer…

 

==

If the pair breaks above 1.3231 then my stop loss will be executed from the overall bearish sentiment however, the pair has resistance at the 1.3200 level as tested!

 

==

t still needs one more push higher but now seems to be restricted to somewhere between 1.3332 & 1.3404. The 1.3234 high was Wave (iii) and Wave (iv) at 1.3026. Even after this push higher I only see a relatively shallow correction (to the entire rally from 1.2623) and expect a move above 1.40. You’ll get your big move lower but it won’t start until mid-end March at least.

 

==

see a bull flag in 240 mts. still may see 3420

 

==

I believe stronger then expected job report pushed the pair down.

 

==

The 1.3017-41 Wave (iv) support mentioned earlier held in a wide flat correction… and is on track for the target areas mentioned still looks to be somewhere between 1.3332 & 1.3384-04.

 

 

NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!

Subscribe For Latest Updates

Sign up to best of business news, informed analysis and opinions on what matters to you.
Invalid email address
We promise not to spam you. You can unsubscribe at any time.

NOTE!

Check NEW site on stock forex and ETF analysis and automation

Scroll to Top