EURUSD

I am just about to start writing for a lecture on Monday, so there will probably be a lot less from me for a bit. In the interim, just a quick reminder of the bigger picture charts from my weekend summary, available in the links on the right of the screen:

1.3391 is the 450 degree pyrapoint support line from the all time low. It is a key line and support would set up the move to the green grid line. The monthly overbought momentum study is of course a concern to any bullish case, but has not as of yet turned down and price has not breached the blue grid line below.

This is the Elliott Wave count I am working with in the bigger picture. Until it breaks down as per the above chart (blue grid line failure) I think it is a goer.

 This is the forecasted path for price action drawn last Sunday. I expect price to test the green 20 day (monthly) FLD and 85.4% speedline to the right and above price. We are not there yet and again, as long as 1.3391 holds, I'd rather keep bashing away long in case that speedline breaks to the upside.



Do have a read of the weekend reports if you have not already done so.