The fact is that despite strong bearish momentum decline from 1.3710 still can be corrective move, because each time when there was a bounce the market also made an overlap with former swing low.
Friday, March 1, 2013
#EURUSD: Bearish But Overlapping
After quite slow price action in this week from 1.3018 low we decided to adjust the wave count and now looking for one leg down. The reason is the structure of a recent minor recovery, labeled on the chart as wave B which is looking corrective. As such, we think thats just another pull-back within ongoing bearish trend. We could see test of 1.2950 in sessions ahead, but keep in mind that these are final stages of a corrective movement and that our primary focus will be bullish when pair bottoms.
The fact is that despite strong bearish momentum decline from 1.3710 still can be corrective move, because each time when there was a bounce the market also made an overlap with former swing low.
The fact is that despite strong bearish momentum decline from 1.3710 still can be corrective move, because each time when there was a bounce the market also made an overlap with former swing low.
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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Pivot: 1342.00 Our preference: SHORT positions below 1342 with 1319 & 1297 in sight. Alternative scenario: The upside breakout of 1342 w...
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Pivot: 1331.00 Our preference: SHORT positions below 1331 with 1297 & 1274 as next targets. Alternative scenario: The upside penetration...
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Pivot: 2128.0 Our preference: SHORT positions below 2128 with targets @ 2100 & 2092. Alternative scenario: The upside penetration of 212...
