Monday 22 October 2012

EURUSD bullish wave count

We start the week with a bullish wave count of EURUSD as posted earlier through twitter. We believe that the pair as long as it stays above wave i (1,2994) then our bullish count will be valid. Moreover the green upward sloping trend line provides support at 1,3010 area. We expect the pair to rise towards new highs above 1,3140. Regarding the short term 1hour view, we want the pair to break 1,3066 recent high in order to approach 1,31 resistance.

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