EURUSD Chart 7

EURUSD - Short Term Bullish

EURUSD - SHORT TERM BULLISH by DanV on TradingView.com

4 January 2013

Updates and comments

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 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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