DanV

EURUSD - Possible Bottom

Long
FX:EURUSD   Euro / U.S. Dollar
Longer term I am still very bullish on the EURUSD , you can check my general view on previously published chart at this link:- . However in the short term the price action are difficult to anticipated. Nevertheless EURUSD has retraced little more that 38.2% of the July 1012 low to Feb 2013 high and is at Jan & Feb 2012 support level . On Hourly has potential RSI divergence developing and is in final swing down to reflect the structure of the wave (a) labeled on my chart which has 5 swings. If so I would expect either the end of the correction and new uptrend to resume or more sideways congestion in which case at least 50% retracement to 1.3450 could be anticipated. This might also be in sync with the possible top in the Dollar Index see chart below.

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