Today's Support and Resistance Levels:
R3: 143.88
R2: 143.22
R1: 142.81
Current Spot: 142.50
S1: 142.20
S2: 141.94
S3: 141.39
Technical Summary:
We have seen the expected rally towards 143.22 (the high till now has been 142.81). We are now in the very last part of the rally from 94.10. Only a break below 142.12 will indicate, that the top is already in place, but a break below 140.91 confirms, that wave v of 5 of I is in place and wave II lower towards at least 124.95 is taking over.
However as long as support at 142.12 protects the downside, we could see a little more upside to 143.22 (our ideal target). Even a spike above 143.22 can not be ruled out, but it should be short lived.
Today's Support and Resistance Levels:
R3: 1.6869
R2: 1.6800
R1: 1.6735
Current Spot: 1.6707
S1: 1.6673
S2: 1.6648
S3: 1.6590
Technical Summary:
The price action seen over the last couple of days, has been slightly disappointing and is not really in accordance with the scenario of a series of waves one's and two's developing. Therefore I have shifted my preferred count to a leading diagonal developing. Ultimately the outcome will be the same, a new powerful rally to 1.7239 and above, just the pace will be slower.
Short term look for support at 1.6590 to protect the downside for the next powerful rally higher towards 1.6869. This should mark the end to the leading diagonal and call for a correction towards 1.6556 before higher again.
hy ews!
ReplyDeletein my opinion there will be no major correction, look at my chart. there are the same waves. one is on the head.
[img]http://img1.bildupload.com/3126a382cccecc5d91932348bf06c5ca.jpg[/img]
http://img1.bildupload.com/3126a382cccecc5d91932348bf06c5ca.jpg
DeleteHi Joe,
DeleteSorry, but I can see your chart.
I will be very surprised if we don't see a big correction soon. That said we need some confirming Price action to support that view.
Kind regards
EWS
hy ews! here the link again
Deletehttp://img1.bildupload.com/3126a382cccecc5d91932348bf06c5ca.jpg
in this picture you see that this wave now can be a 3 of III.
greetings joe
Hi, Joe,
DeleteI still can't see you chart.
I think, I hvea clear icture of what you Count are, but I have a very hard time counting it that way.
Still nothing is decided yet, so you might be right.
Kind regards
EWS
Hey EWS may get the EUR come ture spot on hiting 127.2 fib ex from 3398 3620 3523 at 1.3806 looking for resistance at 3773 in minor wave iv for next down
ReplyDeleteOut allot today Great charts this week and wishing you a great weekend
Best Regards jt
Ps CHF Looking interesting now putting up early fighting pattern in 4hr
Deletejt
Hi JT,
DeleteYour got you wish! I have jst updated a short term EUR/USD chart, calling for more downside.
You will see alot more to me in the months ahead.
Kind reards
EWS
Hi! what you think GBPUSD is follwoing eurusd!!??!
ReplyDeleteI think gbpjpy is building a ending diagonal triangle, dont you think?
Hi Zink,
DeleteYes GBP/USD should follow EUR/USD lower.
GBP/JPY could be Building an ending diagonal. It's still very early in the process. However, it could also just be a simple zig-zag correction towards 1.6665 before the final leg higher towards 1.7190.
Kind regards
EWS