Παρασκευή 24 Δεκεμβρίου 2010

EURUSD update on latest price action plus an alt bearish senario

Latest price action could be some sort of complex 2nd wave correction which should be ending now after a final thrust above 1.3140... Even if it doesn't seem likely a 2nd wave to last so long and be that complex, holiday season could be the reason ...






An alternative senario could put us in a large wave 4 since the beginning of  December, and we could have finished legs a and b... That means that soon we should see c wave taking shape... this kind of correction should last a couple or more weeks more before final thrust as a 5th wave take us below Nov low possibly towards 1,2585... of course there other possible senarios as well, but for now these are what I consider most likely...

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