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Friday, December 10, 2010

EUR/USD - One more wave one and two?

We saw a small break below 131.77 yesterday, but the break wasn't
maintained, which does cause some concern, but as long as 132.84 and more impotantly 133.22 protects the upside, I will count this as one more wave i and ii. That means that I'm still looking for wave iii to accelerate to the down side soon. I still looking for a test of the support near 129.64 soon.
Only a break above 133.22 will kill my count and make the alternate A-B-C count the obvious one.

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