EURUSD 30min

Looks like I was too early on the calling an end to the euro's correction so I had to relabel my wave count.  The rally is in choppy overlapping waves so I have little doubt this is a correction.  There is a confluence of resistance from the 61% Fibonacci level and the hasty channel I drew at 1.0837 that should cap the rally.  We might get some volatility tomorrow morning with CPI data coming out, so a nice shot higher and reversal lower would be a good sign a top is in.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

EURUSD 15min Tuesday

The euro is playing out as expected, more or less.  I count a nice 3 wave move, ending with an impulsive wave "c" and stalling at the 50% Fibonacci retracement level.  So the correction could easily be completed right now.  If so, the euro should be headed down immediately and not come near the 1.0812 level, which is the wave i) extreme.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.