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Friday, January 3, 2014

EUR/USD - Possibility of wave E being place rises.


EUR/USD:

The break below 1.3655 indicates, that wave E of the major running B-wave triangle, which has been developing since late 2008 could have ended at 1.3894.

Short term I would like to see a break below 1.3625 as well as that would further enforce the possibility of wave E being in place. A break below 1.3625 would call for a continuation lower towards 1.3561 as wave (v) and wave iii since the 1.3894 top.

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