EUR/USD began the trading day with a gap down to 140.28 from Fridays close at 140.87, This gap might be an exhaustion gap ending the wave iv correction. If this is the case we should see a break above 140.90 soon. I'm still looking for one last rally above 142.49 and more importantly just above 142.81. All important support is still at 139.83,which marks the top of wave i. A break below 139.83 would suggest that the rally from 128.71 ended with a fifth failure calling for a new powerful decline. Sunday, March 27, 2011
EUR/USD - Is the correction from 142.49 finally over?
EUR/USD began the trading day with a gap down to 140.28 from Fridays close at 140.87, This gap might be an exhaustion gap ending the wave iv correction. If this is the case we should see a break above 140.90 soon. I'm still looking for one last rally above 142.49 and more importantly just above 142.81. All important support is still at 139.83,which marks the top of wave i. A break below 139.83 would suggest that the rally from 128.71 ended with a fifth failure calling for a new powerful decline. 
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