Sunday, May 31, 2015

Two face Of Eurusd

I have for some time now keeping a bullish bias on this pair. After the very long term bearish correction, thinking the market will return from there is not a bad idea; after all markets,we are taught, rise and fall in time and price.

I have done some long term analysis which speculated a bullish resurgence. You can scroll down the blog to read them.

Price did rise from the zone I speculated and I really made a good run of profits, on two different occasions. 

The bullish move is expected to be an impulsive move. 

Any sign of corrective pattern could signal that price could still dip further to complete the last leg of the bearish run.

Viewing the intra day chart, I have two positions to satisfy the two scenarios mentioned above. 


The intraday movement of price around the intraday zone(in red) could make all the difference in determining where the breakout will occur.

The either movement will confirm any of the wave count that birthed it.

Let price decide and we can follow.


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