HighSky (HighSky)
Currencies  |  February 11, 2013 11:38:00

EURUSD digging his tunnel on ...

Already at the end of last week we post correction wave (iii) of 23.6% (see graph already do not show) lived to see the completion of the fifth wave. Home pětisekvenci after the previous pulse, therefore we have completed, but rather to point out yet another alternative in blue indicated by the development, which could still be a fifth wave spread across the top of the third wave and we would just wait.

eurusd, daily comment

Which alternative would in the short term it should be valid should decide puncturing the indicated red levels. For proeurového D and greater than the current correction, the main resistance would then be placed around the Fibo 38.2%, which is the zone near the top of the first wave of higher order, and the upper line the trend of the current channel.Friday's decline below levels would in turn mean that the third wave of a higher order is not over yet.

Josef Kvarda, HighSky Brokers

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