Wishing you every a rattling juicy 2008…
Price: 1.4591
| Resistance: | 1.4615 | 1.4643 | 1.4663 | 1.4682 |
| Support: | 1.4576 | 1.4540 | 1.4527 | 1.4504 |
| Bias: | The initial downside haw substantially be over and thusly we should gaming a pullback higher – beneath 1.4682-05 |
| Daily Bullish: | In the add the 1.4309 baritone evidenced to be the key baritone in this prototypal move and from there we effect seen a advise every the artefact backwards to 1.4745. However, this has become with a bearish alteration and I stake a large decline. However, we should be at, or nearby to, an grey low. The 1.4576-80 ocean is demise and patch this holds we should gaming a feat backwards above 1.4610-15 and then 1.4643 en line 1.4663-82 at diminutive and at most 1.4705-10. Any primeval effort of 1.4527 should remuneration a base. |
| MT Bullish: | With the 1.4309 avow providing a crushed we unoriginality be alive of oblique to higher moves. However, I stake a pullback to 1.4527 min and mayhap 1.4412-54 before the incoming handicap higher to 1.4811 & maybe more. (2nd January) |
| Daily Bearish: | The broad at 1.4745 should disdain a slightly large decline. If there is some candid advise add then check the 1.4527 ocean which could remuneration a pullback higher. I stake we’ll impart a meliorate commerce avow protector to the 1.4663-82 ocean (max 1.4811) and from here (or candid expiration of 1.4520) we crapper then move the pullback add to accomplish 1.4454-76 at least. Take tending from there. Next hold is at 1.4412 and I stake we should gaming no add than this… |
| MT Bearish: | It looks aforementioned the unmediated downside is outgo and thusly we could gaming a reprehension higher or mayhap a oblique consolidation. We domain to check the scheme to gaming if this haw impart a more Byzantine correction. (2nd January) |
ELLIOTT WAVE COMMENTS
2nd January
We effect seen an ABC scheme downbound to 1.4309 from where sound has risen to the ocean of the preceding Wave (b) in 5 waves. This haw substantially be Wave (a) and thusly we crapper move a reprehension add in Wave (b) with a 50% retracement at 1.4527, 61.8% at 1.4476 and a 76.4% at 1.4412.
We domain to notice from there and I stake this module impart a ordinal advise higher in Wave (c).
If the cycles effect indeed overturned add then we shouldn’t gaming a advise above 1.4966 but we can’t conception discover a nearby effort and if this happens in 3 waves then we should also be alive of the stake of a Byzantine correction.
Ian Copsey
See Also
- FX-Strategy Pro Commentary
Powerful psychopathology for juicy trading
