Daily.Pips

EURUSD Daily: Last Reminescence of the Uptrend

FX:EURUSD   Euro Fx/U.S. Dollar
-Completed AB=CD (AB 48 bars, CD 44 bars, with BC             at 0.618 retrace and CD 1.414 extension over AB) outside higher BB with each wave touching the trend line.
-RSI hit same resistance at 70 since february, CD wave showing signs of weakness now. DMI             confirms the maturity of this uptrend.

EURUSD             now at 0.618 and important support level. Since 3 days price has been moving inside a falling wedge:



Expecting last leg to about 1.152, which is 0.618 retrace and upper BB level on daily chart , before starting to downtrend with first destination to approx. 1.12
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