DanV

EURUSD - SHORT TERM BULLISH

Long
FX:EURUSD   Euro / U.S. Dollar
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2
It looks to me that EURUSD is in progress of wave c down which could be in the form of falling Wedge or ending diagonal that might complete around 1.3140 -1.3130. If 1.3130 being the top of wave 1 earlier hold, then wave 5 will develop which would have EURUSD retesting the last high at 1.33 area or make new high up to 1.3350 . Seasonally (which could fail this year) January -February is weaker period for EURUSD which means that if it holds out then EUR will have to move up quickly early in January to conform to seasonal pattern. Developing potential RSI divergence suggest that the bottom could form as early Monday and begin it last leg up early in January.

Comments

Overall this chart is still playing out the Bullish bias though the actual path appear to be slightly different. If you are following this chart then keep a look out for an updated chart shortly.
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