Monday, November 24, 2014

Intraday Update on Eurusd

On 21st November, I did an analysis on Eurusd, you can read here,when I discussed about an expected move of Eurusd down to the support zone ( 1.2150 and 1.8850) if the intraday zigzag channel is broken downward.

Price broke the channel mentioned above and is presently retracing to the neckline of the channel or ( 50% retacament of the intraday wave 3 to resume the bearish move to the expected zone before deciding what to do next.

If the present retracement happens to break 1.2600 upward, the bearish analysis is invalid

I presently have my pending sell position at 50% retracement of the most recent intraday bearish move

I will update you as it goes.

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