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Friday, June 3, 2011

EUR/USD - Looking Impulsive

Sorry for not having updated the last couple of days. I have been very busy.

The rally since the 139.68 is really beginning to show impulsive behavior. Breaking above 144.23 has added even more credibility to my bullish count and the break above 145.78 today has weakened the possible bearish count considerately. For the bearish count to gain momentum again will need a break below 144.51 and more importantly 143.05.
The next real resistance will first be seen near the 147.50-147.60 area. A break here will make a new top above 149.32 look like a walk in the park.



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