Thursday, September 15, 2011

Eur/Usd : Retesting the trendline

Todays rally is big enough for me to count 1.3493 as the end of wave (W). The rally following this bottom is clearly corrective and the question now is how long this rally will survive. Price is going to retest the important trendline at least once. After retesting once price could resume the downtrend, another retest a little higher and later seems more favourable.

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