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Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Sunday, 22 September 2013

EURUSD Weekend Summary

So the "is 'E' & 'B' really in" question continues with price pushing to retest the 1.37098 high. If it isn't, then the triangle UTL & a=c equality sits at 1.4415. With price curling out over the cloud there, I am probably leaning towards the second count at the moment.
Following the above count for now, the test of '1' high would perhaps count like this. I prefer this count to an expanding diagonal in a 'b' wave but either way, that 1.37098 high looks like the target to test.There is already some negative divergence appearing in the daily MACD but price has only just bounced off the cloud.
Similarly, there is little negative to point out in the 240min chart with the proposed 'c' of 'c' looking too short to call time on and I expect the 1.37098 high to pop and the count to change from 'E & 1' above to 'a' & 'b'. We shall see.
The monthly MyWave seem to have got itself into a bullish stance again, with perhaps a little steam to boil off first. All in all, I expect EURUSD to keep rising next week, once any correction is played out.

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