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Thursday, July 21, 2011

EUR/USD - New short term count

The break above 142.81 blow my short term count and a new one is needed.
I'm having a hard time giving up on my bearish count, therefore the changes are minor as can be seen. In stead of wave 2 already being in place I now looking for wave 2 to finish at 143.00, where wave c will be 61.8% of wave a or in the resistance band from 144.19 - 144.52 where wave c will be equal to wave a in length. If 143.00 holds and we see a break below 142.30 I will go with the first call while a clear break above 143.00 favor the second scenario.

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