As I said yesterday, the decline from 126.12 didn't look impulsive and that we needed one more rally deeper into my target-zone between 126-127. This rally is now in progress and will most likely head towards the top of my target-zone ending wave C and setting the stages for the next leg lower. I still look for a move closer to 114.71 area.Tuesday, July 6, 2010
EUR/USD - One more new high and then down!
As I said yesterday, the decline from 126.12 didn't look impulsive and that we needed one more rally deeper into my target-zone between 126-127. This rally is now in progress and will most likely head towards the top of my target-zone ending wave C and setting the stages for the next leg lower. I still look for a move closer to 114.71 area.
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