FX:EURUSD   Euro Fx/U.S. Dollar
456 6 2
We have extended the reaction levels identified previously on several charts, including this one
EURUSD An update
. Until a reaction level reaches predetermined targets or fails, it will continue to be reacted to each time the price level is reached.

When do we know definitively that a level has failed? This chart shows the failure of both the previous VAIS and AIS. Though both were nicely profitable trades if entered at the appropriate time, subsequent price action has nullified their usefulness. Note how there was an immediate reaction as each failed, signaling that the "weak" or short-term shorters bought to cover their positions which caused a spike in price.

Though there have been many great short-term and daytrades/scalp profitable trades short and long, the longer term chart still shows range-bound price action with a spread of about 550 pips. By studying the price action from the last time this level was reached, we can learn alot about what to expect this time. If the scenario changes, the price action at the reaction levels will show clearly who is in control and what their targets are.

We have identified targets for the current VAIS and the 4th target for the most recent AIL. Our clients have been alerted to a number of other entries and their targets , though they are not shown on this chart.
50+ pip move in both directions as the VAIS barely holds for a nice intraday move. Note that the ST Short is still a factor as well as the previously reacted-to short just above. Will take some very positive news from eurozone to definitively break these short entry levels. Shorts will continue to re-enter and add to their positions until break of levels shown on chart.

May have to scroll chart to see all the levels shown on chart.
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100 pip profit from VAIS entry, 6 pips from 1st target.
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VAIS 1st reached.
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250 pip move VAIS 2nd reached. 128.5 3rd(not shown on chart).Reacting to intraday long(not shown on chart).
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140 pip profit as AIL 1st target reached.
EURUSD Update
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