Week of April 18-23, 2010
EURUSD’s fall from the January 13, 2010 high of 1.4579 remains active as ONLY a daily open and close above 1.3768 will complete this fall while the March 25, 2010 low of 1.3266 holds. ONLY above 1.3768 will prices continue to move higher within a 1.3768-1.4077 consolidation zone before another attempt to the downside. As to the downside, a weekly open and close below 1.3482 will confirm further downside extenion is underway with prices initially targeting 1.3282, followed by 1.3089 and the 2009 low of 1.2455. As to the near term rise from the April 8, 2010 low of 1.3282, this wave is complete at the April 12, 2010 high of 1.3691, as prices have now moved within the 1.3379-1.3535 consolidation zone, as a sustained break of this zone will see further price extension in the direction of the break.
- Posted by adminfx
- On April 18, 2010
- 0 Comments
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