Since last week, EU made an upside move of approx. 180 pips. After counting the waves on low timeframes (5 min), we determined this upside move consists of only 3 waves. It means, that it can be an obvious proof of the bullsih impulse continuation. At least we have to wait for breaking 1.3704 and consequently 1.3738 levels.
By now the possibility of bearish bias is still actual, EU has enough space for a downside move without cancellation of the suggested scenario.
Last edited by PipsyGirl; 03-10-2010 at 03:39 PM.
Reason: Incomplete Details
yesterday buy euro/usd 1.3674 at 4.04pm, sell euro/usd 1.3636 at 6.53pm, since yesterday the price is stuck between 1.3636 and 1.3674 more or less. Don't buy or sell at the moment there is no market. if you buy the price will go down, if you sell the price will go up. it is the same for gold, and other commodities and currencies.