Thursday, February 7, 2013

Intra-day Review For #USDCHF and #EURUSD (#Elliott Wave)

Markets did not move much during the Asian trading hours, despite lower stock prices that followed bearish price action seen yesterday on European and US shares.

The EURUSD was mostly flat around 1.3500 level but pair has now turned bullish ahead of the ECB. Looks like the reaction is technically based that came in from weaker USDCHF.

Notice that USDCHF made three waves up to 0.9148 but we still need to see break of a corrective channel support line and 0.9055 as well to confirm weakness towards 0.9000. Anyhow sooner or later pair will test this psychological level.

USDCHF 1h


At the same time we are tracking bullish intra-day pattern on EURUSD, where we could see test of 1.3600 resistance in incomplete wave B, before pair turns bearish for wave C.

EURUSD 1h

By at

USDCHF Technical Analysis - Sell at 0.9955

USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...

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