We might just have seen a fifth failure as red wave v at 145.15. The decline from 145.15 to 143.62 is clearly impulsive, which could indicate that we have seen a change in the trend. Before we can verify the possible fifth failure we need a break below 143.62 and now new high above 145.15, as a new high above 145.15 reopen the case for a move towards the 145.55 - 145.70 area. First good indication, that red wave v was an fifth failure will come if we break below 144.31 and confirmed by a break below 143.62. We have to be patience as the top finalizes, but we sould be pretty close now.
Thursday, April 14, 2011
EUR/USD - Possible fifth failure
We might just have seen a fifth failure as red wave v at 145.15. The decline from 145.15 to 143.62 is clearly impulsive, which could indicate that we have seen a change in the trend. Before we can verify the possible fifth failure we need a break below 143.62 and now new high above 145.15, as a new high above 145.15 reopen the case for a move towards the 145.55 - 145.70 area. First good indication, that red wave v was an fifth failure will come if we break below 144.31 and confirmed by a break below 143.62. We have to be patience as the top finalizes, but we sould be pretty close now.
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agreed what you said. Mr Surfer
ReplyDeleteI see triple divergence on MACD.
ReplyDeletelooking for a chopping fall
ReplyDeleteHi,
ReplyDeleteEur/Usd is at 61.8% fib from 1.60 - 1.18, but price has also broken through the falling trendline starting at the 1.60 high. So maybe a small reversal to test the trendline as support in the coming days?
Friendly greetings,
Jeremy