Tuesday, June 23, 2015

Eurusd In A Bearish Net.

The chart above was how we counted the elliot wave of eurusd.

 It has been noted that the bullish move from March 2015 is a correction as against the expected impulsive bullish move. 


A double zigzag deep correction is expected.

After some time, this is what we have.



The effect of the diagonal could take price to 1.113 or 1.105 before the bullish move could continue.

Our bias in the short term is bullish to 1.175 and the long term is bearish.

If price breaks below 1.1045, the short term bullish bias will be fading as we will be looking bearish all the way.

Updates will be posted here.

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