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Saturday, August 29, 2009

Analysis EURUSD 082809

Trade NotebookCurrency Pair : EUR/USD Date: Thursday, August 28, 2009HourlyElliott Wave:There is a clear 5 wave up movement that stopped against a long term trendline and possibly truncated the fifth wave.Classic:A lower high found resistance at 1.44 possibly causing a reversal. Also, it could be considered a double top at the resistance lin ethere since Sept. ’08.DailyComment:Elliott Wave: An expanding wedge might be forming, with a truncated fifth...

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