EU could bounce in the zone 1.1055--1.1060 where ii-blue wave shall end....i-blue wave ended at 1.0999...had a small rally in the form of a-wave & sharp fall in the form of b-wave -making a new low@1.0981...I am looking for a bounce in the zone 1.1055--1.1060 once it crosses above 1.1023-a wave top ...zone 1.1080--1.1090 shall give resistance to EU--if it faces upside resistance in desired zone--look to sell in that zone for targets lower then 1.0981(b-wave low)...
Immediate hurdle -a-wave top@1.1023..If EU crosses 1.1023 ..looking for 1.1055--1.1060....Once Target achieved -look to sell with Resistance Zone-1.1080--1.1090 for bigger downside targets lower then 1.0981...
Regards, Abhishek H.Singh, CMT
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20:30 Hrs-IST-20th July 2016-- We are in larger downtrend for EU..so be careful on longs ...bounce is just a corrective recovery which could kiss 1.1055--1.1060 area which is 38.2% fib of complete fall from 1.1165 to 1.0999..downside ...1.0981 -b-wave low is our working support. Likely we should get a bounce & 1.1080--1.1090 zone shall give resistance --which should be used for selling ..Regards, Abhishek
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23:15 Hrs--IST--20th July 2016---EU just dancing up & down in tight range of 1.0981 to 1.1025...I am still open for the resistance area 1.1055--1.1060 as a target on upside before falling back...There could be a possibility that current move can make new low below 1.0981 in that case also...moving back above 1.1025 --EU should kiss the zone of 1.1055--1.1060...Then we should look to sell for bigger downside targets. Regards, Abhishek
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10:35 Hrs--IST--21st July 2016--Slowly & Steadily ---EU is inching towards target zone of 1.1055--1.1060...session high was 1.1043....Any suspected downside move from that zone respecting resistance zone 1.1080--1.1090 shall be good shorting opportunity for targets lower than 1.0981...Regards, Abhishek
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13:50 Hrs--IST--21st July 2016---EU hit session at 1.1047...just missed the lower edge of the zone 1.1055-1.1060....Let us be out as larger downtrend is active or printing a price below 1.1000...shall go straight south....be careful book minimum at current price -1.1027 if not booked higher....Regards
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14:00 Hrs--IST --21st July 2016--else instead of closing if someone looking to hold ..they can but with strict stop loss at 1.1000....& look for that zone...Regards,
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14:10 Hrs--IST--21st July 2016--EU jumps to 1.1040 from 1.1027....Its the last gasp for EU...something is cooking in EU's Den...Book whatever you get...Regards