Thursday, 21 January 2010

EUR/USD Analysis

Wave 5 of 1 has possibly bottomed today at 14028 with a clear 5 down. There is some chance of another low but im happy to have exited my short positions here. Will now look for a retrace back up for wave 2. 61.8 retrace from todays low gives 14723. 38.2 retrace gives 14459 and is also the area of wave 4 of lesser degree.

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