There is so much going on both in Eurozone specifically and to some extent in USA and this has reflected in short term chart of EURUSD. Though longer term EURUSD still remains in bearish cycle and possibly has 1 more wave outstanding that could result in new low or retest of last low.
So making any call on this is likely to be hazardous. It has been perplexing me so far and has been very hard to put satisfactory labels on the price action from the last major low.
However, I think it seem relative clear enough now and probable that has given me a reasons to publish it.
Most of the details are on the chart, which suggest that last bullish leg wave 5 could develop with upside target being 1.15-1.155 zone may be even take out stops just above that.
If the price action completes the anticipated path then bullish trade could be in the making and might prove to be very fast with longer term bearish trade to consider at the top.
Also, if that happens then likely Greece's issue will be temporarily resolved or such that might warrant a relief rally, nothing more.
Anyway as always, do your own analysis for your trade requirement.
Select to follow me and the chart for notification of future updates. If you like the analysis then please indicate this by thumbs up, comments and sharing it with others. If you have an alternative idea then please share for all to learn from.
Thank you for taking the time to read my analysis.
DanV
So making any call on this is likely to be hazardous. It has been perplexing me so far and has been very hard to put satisfactory labels on the price action from the last major low.
However, I think it seem relative clear enough now and probable that has given me a reasons to publish it.
Most of the details are on the chart, which suggest that last bullish leg wave 5 could develop with upside target being 1.15-1.155 zone may be even take out stops just above that.
If the price action completes the anticipated path then bullish trade could be in the making and might prove to be very fast with longer term bearish trade to consider at the top.
Also, if that happens then likely Greece's issue will be temporarily resolved or such that might warrant a relief rally, nothing more.
Anyway as always, do your own analysis for your trade requirement.
Select to follow me and the chart for notification of future updates. If you like the analysis then please indicate this by thumbs up, comments and sharing it with others. If you have an alternative idea then please share for all to learn from.
Thank you for taking the time to read my analysis.
DanV
