Tuesday, July 29, 2014

Eurusd Short and Long term Analysis

Hi folks, it's been long I haven't posted here. I am sorry for not have been around. Of course a lot of things have happened. Recently deepened myself into some studies. I just love my charts- like my wife . 

Well, here is my analysis on the most popular pair-Eurusd

Taking into account the H4 elliot wave analysis on the bearish move from 1.3700, wave 3 is about to be completed after completing a 5-wave elliot swings and resting on a diagonal support, a push to 1.35100 resistance is thinkable and highly probable in order to give us a wave 4, from where we can sell again for large profits.

On the daily chart, 1.3510 was bridged convincingly and a retest is possible for a further push  down to 1.3300 ( A support)  and 1.3100 ( convergence of nearly 1.618% extension of wave 1 from 2 and a level of support).

I expect Eurusd to retrace and them push down. I am still strongly bearish but I am going to take a bull short aiming 1.3510 or lower
The analytical charts below on H4 and D1 will give you a clearer picture.

NB: This analysis is risky and care should be taken in interpretation. You can drop your comment or mail me if you have any question . Please this is for educational purpose and should not be taken as a call for trade.E-mail-sanmiadeagbo@yahoo.com

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