Good morning traders,

Yesterday we've seen a profitable jump for EURUSD sellers thanks to weak European PMI data. The price has stopped at 1.2975 area, which was suggested by a support trendline (marked red on the chart below):

Recent uptrend move on EURUSD, according to wave analysis, looks like a correction one. I expect to see more downside move on the pair with targets 1.295-1.293. This idea is actual till price stays below 1.305. Immediate resistance on tick chart is set on 1.3015.

Your comments are very welcome!

Have a safe trading,

Rao.

Views: 464

Comment by Rao Khassan on April 24, 2013 at 10:25am

As for me, it's unlikely we'll set higher high till we test 1.3010 and lower. 

Btw, Peter, can you give me a link where you explained your rules considering 9 minutes and HH in the following 30 minutes? I'd be very grateful as I feel I need to refresh it in my mind!

Comment by adnan baloch on April 24, 2013 at 10:56am

HFT= Himalayan Frontal Thrust

Comment by Rao Khassan on April 24, 2013 at 11:03am

Thanks for the info, I find it very helpful! :)

EURUSD tested 1.3010, so the correction move is confirmed (if it's corrective move, of course). To continue climbing higher, we need to get over 22 - targets at 50 area.

Comment by No more on April 24, 2013 at 11:11am

HOLAAAAAAAAAAAAA ! If High 1.3034 then -100 pips SL = targeting 1.2934? If not then we can keep dreaming :))) Best regardssssssssssssssssssss

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