Friday, August 28, 2009

eurusd 071409

I think the following scenario's are all still valid. Short term bearish, longer term bullish. My primary count would be the WXY count but wave Y can land anywhere. That count is more in line with the (other) correlated pairs. But EurUsd is still not tradable to me. Trade a pattern that you recognize, this one has to many options...
Note that the Aussie is making a run for it but meeting channel resistance right now. Could mean that eurusd might follow...

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