Good morning all,
This is our take in SBSTOCKS.COM today Wednesday 27 January 2015 on the EURUSD pair.
IN A NUTSHELL: On the weekly chart the EURUSD is bouncing back from what it looks like a double bottom support area @ 1.0450 levels.
For the past 53 days the pair have been in sideway movement preparing for a breakout/breack-down, bearing in mind that we are coming from a double bottom support area and the previous impulsive move was up, that might be signalling a breakout instate of a break-down. a simple ABC correction might have been completed and a 12345 impulsive wave is in this way of formation. However with (1 or A) (2 or B) seems to be completed.
CONCLUSION: along my be a wise choice for the moment see the chart for Signal instructions.
Comments are very welcome
This is our take in SBSTOCKS.COM today Wednesday 27 January 2015 on the EURUSD pair.
IN A NUTSHELL: On the weekly chart the EURUSD is bouncing back from what it looks like a double bottom support area @ 1.0450 levels.
For the past 53 days the pair have been in sideway movement preparing for a breakout/breack-down, bearing in mind that we are coming from a double bottom support area and the previous impulsive move was up, that might be signalling a breakout instate of a break-down. a simple ABC correction might have been completed and a 12345 impulsive wave is in this way of formation. However with (1 or A) (2 or B) seems to be completed.
CONCLUSION: along my be a wise choice for the moment see the chart for Signal instructions.
Comments are very welcome
Comment:
This is taking longer than expected to come in conclusion, we might close it manually. stay tuned
Trade closed: target reached:
SUCESS: Finally Profit Taken +139 PIPs