Disclaimer

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.

Friday, 7 February 2014

EURUSD

So, after yesterday's fireworks, what will NFP do today. For now, this grind sidewards is either a 'wave 4' or a 'b' wave. I have marked it out as a 'b' wave for now, although it could turn into a 'ii' of a diagonal in due course, but we can not know that till more action follows. The momentum studies up to 4hrs in duration are overbought, with little softening happening with overnight action, so I am still flat and sitting on my hands. I am expecting a deeper retracement and would be happier nearer 1.3530-1.3540 to reassess.

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