DanV

EURUSD - SHORT TERM BULLISH

FX:EURUSD   Euro / U.S. Dollar
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From my previous intra-day chart on EUR, I was bullish and whilst I did not get the full retest of the high, we got very close, though I think it was difficult to trade unless you entered long the the lower area of the congestion. However, now we have what I believe is abc retracement to the downside, we could have interim bottom and could bounce at least to 1.32 area. I have 2 possible counts. The one in Blue suggest that we could bounce to 1.32 area and have a another leg down. The one in Brown suggest that the retracement this week was in fact wave 4 and that we could move with strong upthrust to form wave 5 topping out around 1.3350 - 1.35 area. Either way a potential long to develop.

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Identified profit target was hi earlier than anticipated and even the retracement has been met with possible bottom in the region of 1.30 or faction lower. I will be posting a new updated chart later. If you are not already a follower, select to follow me for notification of new post.
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