As noted in the last post for eur/usd, the triangle count was allready in danger and today the count got invalidated. This leaves us with the 2nd count where we are now in wave X as a complex triple three. There are a couple of ways this could go. A first possibility is price will go straight to the 1.46 resistance zone and reverse sharply after rejecting higher prices. Other possibilities are for price to go to the 1.4720-1.4750 zone or go down a little first before reaching one of the 2 target zones.
Monday, August 29, 2011
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