Update for: 2012-03-26 - 2012-04-01

Posted on: Sunday, 25 March 2012 17:53


EURUSD: 1.3269

 Short-Term Trend:  sideways


EUR has held firm last week as the 1.3000 level has provided strong support. Now, the daily oscillators are trying to turn up. That's a good sing, so I can say that finally the trending conditions support the wave count I have been following for months here. So, the long side is now favored. A move abv 1.3520 will likely bring gains twd 1.3720 before another decline takes place. On the downside, below 1.3050 negates, risks decline twd 1.2870 before another rally attempt is seen...

Strategy: Longs favored here against 1.3050. Target=1.3700.

Next Update: Sun, 04/01/2012.

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