Stokcs, Metals, Energy, Forex, Crypto
Wednesday, April 3, 2013
EURUSD COULD HIT 1.2700-ELLIOTT WAVE Apr 3, 2013
EURUSD remains in bearish mode after only three wave rally from 1.2750 low that was just another temporary pause within ongoing bearish sequence. As such, new lows are in view, especially now when wave 4 pull-back appears complete around 1.2880 after recent weakness towards the lower side of a corrective channel as shown on the chart. With that said, price is expected to extend towards 1.2700 level in the next few sessions before we may see a bottom formation on this pair. Keep in mind that we have a wedge pattern on EURUSD which looks like an ending diagonal. Ending diagonals are reversal patterns, so sharp EUR rally could follow from a new low.
EURUSD 4h:
http://bit.ly/Z7PVx9
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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