Yes, I do believe in 1.30 and lower on EURUSD + Daily Chart Analysis

The recent price action on EURUSD might be choppy and less predictable as usual, but on higher timeframes this pair remains quite "readable". 

As you can see on the charts above, EURUSD retraced to 78,2% level of wave (3). From the current point it can reverse (finish corrrection wave (4) ) and complete the bearish wave 3 with (5) impulse. The forecast is actual till the price holds below 1.455 level.

Just a small note: previous wave (3) of 3 is exactly 161.8% the length of (1).

Although I'm intraday trader, I think I will print this daily chart just to prove in the following weeks if I was right.


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Comment by fxretracer on October 28, 2011 at 3:16am
good stuff, hope folks pay attention to it for their sake...
Comment by Rao Khassan on October 28, 2011 at 12:02pm

Hi spiro!

You're right, I'm paying more attention to technical side, not fundamenta. It could sound as illogical, but it works better and proved (for me =) to be more efficient, than fundamental forecasts.


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