HighSky (HighSky)
Currencies  |  October 22, 2012 11:32:00

EURUSD has cut a half of Tuesday's rally

The main currency pair eurusd today looks like direction after returning half of the significant growth recorded during Tuesday's trading last week. End of the week and recorded rather short traders, when the couple returned from a total of just short-term overbought levels. Sentiment index still recorded more growth scenario.

eurusd, daily comment

Also, we still prefer other possible growth we saw last completed the formation of a triple zig-zagu. This formation is therefore already completed, only the last wave C would technically better look over the current high of 9.17, which is above the level of 1.31706. In the last week we have not had nearly double peak and could also be an already completed a formation with the last C in failure.Over the long-term trend reversal, we now consider fall below the lowest limit of the last zig-zag formation, ie below the price of 1.2803.

Josef Kvarda, Analyst

HighSky Brokers, Inc.

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